Hindustan Urvarak & Rasayan Limited (HURL) was incorporated on 15th June, 2016 as a joint venture company by Coal India Limited (CIL), NTPC Limited (NTPC) and Indian Oil Corporation Limited (IOCL) as the lead promoters with Fertilizer Corporation of India Limited (FCIL) and Hindustan Fertilizer Corporation Limited (HFCL) as other two partners.
The three lead promoter companies of HURL namely CIL, NTPC and IOCL are amongst top Maharatna Public Sector Undertaking of the Government of India, belonging to Ministries of Coal, Power and Oil & Natural Gas. These three companies hold a total of 89% equity share with equal partnership, while FCIL and HFCL together have the balalnce 11% share against their usable assets, oppurtunity cost and use of land on lease basis at the three plant locations.
The initial Joint venture Agreement (JVA) was signed on 16th May, 2016 between CIL and NTPC, followed by a Supplemental JVA on 31st October, 2016 between CIL, NTPC, IOCL, FCIL and HFCL.
The Cabinet Committee on Economic Affairs (CCEA), Government of India, has formally approved the revival of the Gorakhpur & Sindri units of FCIL and Barauni unit of HFCL.
The prime objective of HURL is to establish and operate state of the art environment friendly and energy efficient Natural Gas based new Fertilizer Complexes (Ammonia-Urea) of 2200 MTPD Ammonia and 3850 MTPD Urea (1.27 MMTPA neem coated urea) at each of the three locations, and simultaneously market their products, thus spurring economic growth in the eastern India.
The feedstock to the plant i.e. Natural gas would be supplied by Gas Pooling mechanism to supply at uniform delivered price to all the fertilizer plants on gas grid for production of urea.