GAIL and RCF Ink MoU to Develop 1.27 MMTPA Gas-Based Fertilizer Project in Maharashtra
GAIL (India) Limited and Rashtriya Chemicals and Fertilizers Limited (RCF) have signed a Memorandum of Understanding (MoU) aimed at jointly establishing a gas-based fertilizer project in the state of Maharashtra. The collaboration involves setting up a facility through a Special Purpose Vehicle (SPV).The proposed urea production facility is planned for the Vidarbha region of Maharashtra, situated along GAIL's Mumbai-Nagpur-Jharsuguda Natural Gas Pipeline (MNJPL). This strategic partnership between the two organizations signifies their combined efforts to move the project from conceptualization to successful implementation.
The MoU was formalized by Shri Sanjay Agarwal, ED (BD & Start-up) of GAIL, and Ms. Jyoti Patil, Executive Director (Project, Corporate & Co-ordination) of RCF. The signing ceremony also saw the presence of Deepak Gupta, CMD of GAIL, and S. Shivakumar, CMD of RCF, alongside senior management from both companies.
Commenting on the development, Shri Deepak Gupta, CMD of GAIL (India) Limited, stated that the project aligns with GAIL's strategy for long-term value creation through natural gas utilization and contributes to India's energy security objectives. He highlighted that the partnership combines GAIL’s strengths in the natural gas value chain with RCF’s experience in fertilizer manufacturing, noting the alignment with the National Investment Policy for Urea-2026 (NIPU-2026).
Similarly, Shri S. Shivakumar, CMD of RCF, expressed delight over the collaboration, stating that the project is anticipated to significantly contribute towards meeting growing fertilizer demand and reducing import dependence. He further emphasized that by leveraging RCF’s operational experience alongside GAIL's robust gas infrastructure, the partnership holds the potential to create a world-class facility and promote industrial development in Vidarbha.
GAIL Stock Price Movement
Shares of GAIL (India) Limited slipped by 0.09% in post-market trading, settling at ₹175.12 today. The stock traded a volume of 8.27 million shares as it concluded its session.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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