Press Information Bureau

Government of India

Ministry of Chemicals and Fertilizers

30-November-2012 14:34 IST

The Cabinet Committee on Economic Affairs had in its meeting held on 4.8.2011 approved the proposal for revival of closed units of Fertilizers Corporation of India Limited (FCIL) and Hindustan Fertilizers Corporation Limited (HFCL) including Gorakhpur unit of FCIL with the stipulation that Board for Industrial and Financial Restructuring (BIFR) proceedings be expedited and thereafter, the matter including changes, if any, required in bid parameters, be placed before the Committee for a final decision. Accordingly, the Draft Rehabilitation Schemes (DRS) of HFCL and FCIL have been submitted to BIFR for their approval. BIFR has appointed State Bank of India as Operating Agency for examining the DRS of HFCL and FCIL. At present, the matter is with BIFR. In view of this, it is not possible, at this stage, to give a time limit for operationalization of the Gorakhpur unit.

This information was given by the Minister of State for Chemicals and Fertilisers, Shri Srikant Kumar Jena in a written reply in the Rajya Sabha today.

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DNM/NSK/NV

 

Revival conditional on rehabilitation proceedings; approval awaits authority review and possible changes to bid parameters. Approval for revival of closed fertilizer units, including Gorakhpur, is conditional on expedited BIFR proceedings and any resulting changes to bid parameters. Draft Rehabilitation Schemes have been submitted and a designated bank appointed as Operating Agency to examine them; the matter remains pending with the rehabilitation authority, so no timeline for operationalization can be provided.