Oil India forms joint venture with Assam govt to set up fertilizer plant

PSU Oil India Ltd. has formed a joint venture with Government of Assam to set up a fertilizer plant in the state, the company announced on Saturday.

National Fertilizers Limited (NFL), Hindustan Urvarak & Rasayan Limited (HURL) and Brahmaputra Valley Fertilizer Corporation Limited (BVFCL) also hold stake in the joint venture named Assam Valley Fertilizer and Chemical Co. Ltd. (AVFCCL).

AVFCCL has been incorporated for setting up of a new Ammonia-Urea Complex Namrup IV Fertilizer Plant at Namrup, Assam, the company said in a stock exchange filing.


Oil India holds 18% shareholding in the venture after subscribing 18,000 Equity Shares @ Rs. 10 each amounting to Rs. 1,80,000/-