US Co. to start a urea plant in Chandrapur

US Co. to start a urea plant in Chandrapur

Negotiations with the concerned company have reached final stages of discussion.

The Dollar Business Bureau 

A urea plant worth Rs.6,000 crore to be set up by a US-based firm is underway near the city of Bhadrawati in the Chandrapur district of Maharashtra, informed Union Minister Nitin Gadkari.

The concerned project has reached advance levels of negotiations followed by a number of meetings with Chief Minister Devendra Fadnavis and Union Minister of State for Home Hansraj Ahir who represent the area (Chandrapur district), added the Minister for Road Transport and Highways and Shipping.

The project has witnessed development with the Maharashtra government already allotting a piece of land to support it along with the Western Coalfields Limited (WCL) agreeing to provide its services for coal linkage.

The minister noted that the project would be monetarily beneficial as the urea produced from coal is cheaper by Rs.10,000 per tonne. He also informed about a final meeting taking place later this month between WCL and all concerned ministers to take forward the project in question. 

It was also highlighted that a proposal for setting up a farming unit for bamboos for making incense sticks is also getting a final shape. The State Finance Minister Sudhir Mungantiwar is finalising the details of the same. The unit would be set up in the backward areas of Chandrapur and Gadchiroli.

These logs are presently being imported by India from foreign companies bearing a cost of Rs.40,000 crore per year. Therefore, this move will curb imports along with generating opportunities for employment. 

 

The Dollar Business Bureau - Oct 17, 2016 12:00 IST
 
TDB Top