Adani Group plans to take over Sindri fertilizer factory

RANCHI: The Adani Group, which has proposed to set up an urea plant in Jharkhand earlier this year, is planning to take over Sindri fertilizer plant through bidding. A delegation from the Gautam Adani-led conglomerate had taken up the issue during a meeting with representatives of the Jharkhand industry department late last month, sources in the department said.

The group had also talked about the infrastructure overhaul plan it is working on for the now defunct facility to fit its purpose, department officials said.

"The delegation told us they want to take over the Sindri plant. They have a plan in place for developing the facility if they are given to run it," deputy industry secretary D P Vidyarthi told TOI. "For that to happen, they will have to go through a bidding process which is to be organized by the Union ministry of che micals and fertilizers," he added.

In June this year, the group signed an MoU with the state government for setting up a urea plant at a net investment worth of Rs 20,000 crore. The conglomerate also sealed a deal for investments to the tune of another Rs 30,000 crore in harnessing coal-based substitute natural gas.

Sources in the industry department said the bidding process for the facility is set to be opened by the union ministry anytime soon this year. "The (Adani) group is trying to save time by averting land acquisition process," a source in the department said.

The proposed urea plant will need land to the excess of 3,000 acres. Adani group is still in the process of land identification. Though he remained tightlipped on the takeover possibilities, an Adani official said land identification process is underway in the Santhal Pargana. "It is the early stages and nothing has been finalized yet," the official said.