The Hindu Business Line : Price bids to be called for NFL next month

The move comes after the Group of Ministers (GoM), headed by Mr K.C. Pant, Deputy Chairman, Planning Commission, cleared the 7th and 8th pricing policy for urea, which was holding up the finalisation of the deal.

Tata Chemicals Ltd, Chambal Fertilisers and Chemicals Ltd and Oswal Chemicals and Fertilisers Ltd are in the fray to acquire a controlling stake in NFL.

"The Government has finalised the transaction documents for the strategic sale of NFL. The price bids will be invited as soon as the Cabinet clears the recommendations of the GoM '', Government sources said.

"NFL will benefit substantially from the decision taken by the GoM. It will also improve the valuation of the company and smoothen the privatisation process'', the sources said.

The Government currently holds 97.64 per cent of the paid-up capital in NFL. Out of this, 51 per cent is being disinvested in favour of a strategic partner along with transfer of management control.

NFL has plants at Bathinda, Panipat, Nangal and Vijaipur having an installed capacity of 32.08 lakh tonnes of urea and 3.18 lakh tonnes of calcium ammonium nitrate.

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