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The government has decided to rope in state-owned NTPC Ltd, Indian Oil Corporation and Coal India Ltd to help in the revival of Fertiliser Corporation of India Ltd plants at Sindri, Barauni and Gorakhpur.
“The proposal has been cleared by the Union Cabinet. The three public sector units will set up a special purpose vehicle,” Law Minister Ravi Shankar Prasad said on Wednesday.
The Cabinet, which met earlier in the day, also approved a proposal for skilling 1 crore people in the next four years under the Pradhan Mantri Kaushal Vikay Yojana through a modification and continuation of the scheme. The cost is estimated at ₹ 12,000 crore, Prasad said.
Meanwhile, the Cabinet Committee on Economic Affairs (CCEA) approved the transfer of shares by ITI Ltd to Special National Investment Fund to meet market regulator SEBI’s minimum public shareholding requirement.
The Cabinet also approved the revised cost estimates of Rs.7,290 crore for the ongoing 1,020 MW Punatsangchhu-II hydroelectric project in Bhutan.
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