Coal India to invest Rs 1,067 crore in Talcher Fertilisers
Coal India Limited (CIL) is set to invest over Rs 1,067 crore in Talcher Fertilizers Ltd (TFL) by acquiring shares through a rights issue.
This significant investment is aimed at the revival of the defunct fertilizer unit of Fertilizer Corporation of India Limited (FCIL) in Talcher, Odisha, by establishing a new coal gasification-based fertilizer plant.
Coal India will invest Rs 1,067 crore by subscribing to 1,06,75,06,771 equity shares at a face value of Rs 10 each through a rights issue. The transaction is expected to be completed by July 9, 2025.
The primary goal is to set up India's first coal gasification-based ammonia urea plant at Talcher, utilizing domestic coal as feedstock.
This is a strategic move to reduce India's reliance on imported urea and achieve self-sufficiency in the fertilizer sector.