New Delhi: Oil India Limited (OIL) has announced the formation of a joint venture company named Assam Valley Fertilizer and Chemical Company Limited (AVFCCL). The JV has been incorporated jointly with the Government of Assam, National Fertilizers Limited (NFL), Hindustan Urvarak & Rasayan Limited (HURL), and Brahmaputra Valley Fertilizer Corporation Limited (BVFCL).
The new company, incorporated on July 25, will spearhead the establishment of the Namrup IV Ammonia-Urea Complex in Namrup, Assam. This project aims to revitalize and modernize the region’s fertilizer infrastructure to meet the growing demand for urea in the Northeast and beyond.
Oil India Limited has acquired an 18 percent equity stake in AVFCCL by subscribing to 18,000 equity shares at Rs 10 each, contributing Rs 1.8 lakh as initial investment. The total subscribed capital of the company currently stands at Rs 10 lakh, consisting of 1,00,000 equity shares.
The joint venture aligns with the Government of India’s vision of achieving self-sufficiency in urea production and is backed by the Department of Fertilizers under the Ministry of Chemicals and Fertilizers. The new Namrup IV plant is expected to not only enhance domestic fertilizer availability but also catalyze economic development and employment in Assam.
AVFCCL’s incorporation represents a collaborative push by Central and State governments along with key public sector undertakings to invest in critical agri-infrastructure, with the twin goals of bolstering food security and reducing fertilizer imports.
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