New Delhi [India], June 9 (ANI): The Cabinet Committee on Economic Affairs (CCEA) on Wednesday gave its approval for the proposal of the Department of Fertilizers for extension of the applicability of New Investment Policy (NIP)-2012 read with its amendment dated October 7 for the Ramagundam Fertilizers and Chemicals Limited (RFCL).
Cabinet approves sops to Ramagundam urea plant
June 09, 2021
All urea plants set up till 2019 will get several incentives The Cabinet Committee on Economic Affairs on Wednesday decided to provide benefits accruing from the New Investment Policy-2012 to Ramagundam Fertilisers and Chemicals Limited (RFCL) in Telangana, even though the project was commissioned only in 2021, an official statement said.
As per the policy all urea plants set up till 2019 would get several incentives including a minimum post-tax return on capital investment. However, the Ministry of Chemicals and Fertilisers proposed to extend the same to RFCL too, which now received green nod from the Cabinet. RFCL is one of the largest fertiliser manufacturing units of South India.