The new project will be covered under the new urea investment policy, which has been recently notified by the government.

Government is planning to divest at least 5 per cent stake in state-run Rashtriya Chemicals and Fertilizers (RCF) in 2015-16, sources said.

Senior officials both in RCF and the Fertilizer Ministry have confirmed that the proposal to set up RCF Videsh is under consideration.

'RCF Videsh' will focus on ventures and assets abroad where feedstock natural gas is cheap or raw materials are available in abundance.

Gas Authority of India Ltd (GAIL), natural gas major, would supply gas to Barauni fertiliser factory and its 250-300 MW power plant at Bett...