Hindustan Urvarak and Rasayan Ltd. (HURL) has signed a Rupee Term Loan agreement for the Gorakhpur fertiliser plant. The agreement is for a loan of Rs. 5,314.33 crore with a consortium of banks led by SBI as the lead banker and Punjab National Bank, Allahabad Bank, Union Bank of India, Indian Bank, Bank of India and Canara Bank.

HURL is a joint venture company of 3 Maharatna companies – NTPC, IndianOil and Coal India, along with Fertiliser Corporation of India Ltd and Hindustan Fertilizer Corporation Ltd. HURL is currently implementing three urea projects at Gorakhpur, Sindri and Barauni in the eastern part of the country.

An NTPC statement said, “These plants will have a capacity of producing 3850 million tonne per day of neem quoted urea. The commercial production is scheduled to begin from February 2021.”

“The imports are expected to become zero and farmers in eastern India will have easier access for getting timely supplies of urea for their crops,” the statement added.

The three plants are being built at an estimated cost of Rs. 21,000 crore. GAIL is implementing a natural gas pipeline for supplying gas to these 3 plants and the total investment by HURL and GAIL amounts to Rs. 36,000 crore.

here is company details.

 

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