Cabinet approves extension of applicability of New Investment Policy-2012 for three units of Hindustan Urvarak and Rasayan Limited

What is the News?

Cabinet Committee on Economic Affairs has approved the proposal of the Department of Fertilizers for extension of the applicability of New Investment Policy (NIP)-2012 for the three units of Hindustan Urvarak & Rasayan Limited (HURL) viz. Gorakhpur, Sindri and Barauni.

What is New Investment Policy (NIP)-2012?

New Investment Policy(NIP)-2012 was announced by the Government of India in 2013 and its amendment in 2014.

Aim: To facilitate fresh investment in the urea sector and to make India self-sufficient. It also lays down guidelines to fix gas prices and also other roadmaps for attracting investment in the urea sector.

About Hindustan Urvarak & Rasayan Limited (HURL)

HURL was incorporated in 2016. It is a joint venture between Coal India, NTPC and Indian Oil Corporation. 

HURL is reviving the erstwhile Gorakhpur, Sindri and Barauni Unit by setting up new gas-based Urea Plants.

All these three units have various unique features like state-of-the-art blast-proof control rooms equipped with DCS (Distributed Control System), ESD (Emergency Shutdown System) and Environment Monitoring Systems. There is no offsite wastewater disposal in these plants.

These three units integrate the world’s best technologies aiming to meet the demand for urea in seven states of India, namely Uttar Pradesh, Bihar, Jharkhand, Chhattisgarh, Madhya Pradesh, West Bengal and Odisha.

Source: This post is based on an article “Cabinet approves extension of applicability of New Investment Policy-2012 for three units of Hindustan Urvarak and Rasayan Limited” published in PIB  on 23rd March 2022