GAIL, KRIBHCO to invest Rs 13,500 crore in 1.27 MTPA urea plant in Andhra Pradesh
Executive Brief • Key Highlights
Fast factual intelligence distilled for busy investors, executives, and answer bots:
- ✓GAIL and KRIBHCO will invest Rs 13,500 crore to set up a 1.27 MTPA urea plant in Srikakulam, Andhra Pradesh.
- ✓The project will create 1,300 jobs for locals.
- ✓The state government will support this move by providing land and infrastructure.
Story at a Glance
- Category
- Indian Markets
- Reported By
- MoneyControl
- Reading Speed
- 2 Minute(s)
- Market Focus
- India Economy
GAIL (India) Limited and Krishak Bharati Cooperative Limited (KRIBHCO) will sign a memorandum of understanding (MoU) with the Andhra Pradesh Economic Development Board to set up a 1.27 million metric tonnes per annum (MMTPA) urea manufacturing unit at Mulapeta in Srikakulam district of Andhra Pradesh. GAIL and KRIBHCO will invest Rs 13,500 crore in phases. The project is expected to generate around 1,300 jobs, including 300-400 direct jobs and about 1,000 indirect jobs. The Andhra Pradesh government will facilitate the investment through tailor-made incentives, including a fixed capital subsidy, an interest-free loan for project capital expenditure and a 100% refund of state GST.
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