FCIL, HFCL sick units valued at Rs 5,582 cr

Nov 22 2012, 17:29 IST
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SummaryThe government has estimated the value of land and scrap machines of the eight closed units.

The government has estimated the value of land and scrap machines of the eight closed units of Fertiliser Corporation of India Ltd and Hindustan Fertiliser Corporation Ltd at Rs 5,582.19 crore.

The valuation has been done by Project and Development India Ltd (PDIL), a central public sector enterprise, Minister of State for Chemicals and Fertilisers Srikant Jena said in a written reply to the Lok Sabha said.

"...The valuation has been certified by the government registered valuer," he said.

As per the data, the total value of Fertiliser Corporation of India Ltd (FCIL) Sindri is estimated at Rs 1,796.09 crore, FCIL Ramagundam (Rs 411.36 crore), FCIL Talcher (Rs 273.73 crore), FCIL Gorakhpur (1,101.91 crore) and FCIL Korba (Rs 497.37 crore).

The three closed units of Hindustan Fertiliser Corporation Ltd (HFCL) at Barauni, Durgapur and Haldia have been valued at Rs 247.39 crore, Rs 706.27 crore and Rs 548.07 crore, respectively, according to figures tabled in the House.

The government had last year approved revival of eight closed units of FCIL and HFCIL subject to the condition that Board of Industrial and Financial Restructuring proceedings be expedited and changes, if any, be placed before the Empowered Committee of Secretaries for a final decision.

Jena also said the estimated value of Namrup I plat of Brahmaputra Valley Fertiliser Corporation Ltd (BVFCL), which is lying closed, is estimated at Rs 20.75 crore.

There is a proposal to set up a brown field ammonia urea plant (Namrup IV) in this vacant land, he said in the reply.

The estimated value of its ammonia-I plant, which is not in operation has been fixed at Rs 11.70 crore by M/s Kohli Associated, New Delhi, approved valuers, the Minister added.

Jena said the estimated valuation of scrap of machines and equipment of the closed ammonia-urea plant at Fertiliser and Chemicals Travancore, Cochin division, at Rs 26.29 crore has not been accepted by the board as it feels that the plant has been undervalued.

"Government contemplates gainful utilisation of the land and assets lying idle by setting up a minimum 1.27 million tonnes per annum urea plant at each of closed units of HFCL and FCIL, besides any other permitted industrial activity," Jena added.

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