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To facilitate revival of Gorakhpur fertiliser plant, the Uttar Pradesh government on Tuesday decided to exempt stamp fees on transfer of land from the FCIL to Hindustan Urvark and Rasayan Ltd.
The decision was taken at a Cabinet meet presided by Chief Minister Yogi Adityanath, a five-time MP from Gorakhpur before he took over the reins of the state in March.
Investment plan
The Cabinet decided to waive transfer fee estimated to be around ₹210 crore in a bid to revive the sick fertiliser plant, an official said after the meeting. In July last year, Prime Minister Narendra Modi laid the foundation stone for the revival of the fertiliser plant with an investment of ₹6,500 crore.
The project will help boost the economy and development of the region and is likely to create a large number of jobs. The plant will be developed on 630 acres of the state-run Fertiliser Corporation India Ltd (FCIL) which will be leased out for 55 years, the spokesman said.
The Hindustan Urvark and Rasayan Ltd is a joint venture company of Coal India Ltd (CIL), Indian Oil Corporation (IOC) and NTPC Ltd.
Gas-based economy
While laying the foundation stone, the Prime Minister had said that revival of the fertiliser plant is going to bring a big change as gas-based economy will begin with supply of gas in Gorakhpur through Jagdishpur-Haldia pipeline.
“It is not merely inauguration of a factory but the start of a victory march that will defeat poverty and unemployment,” Modi said.
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