Sick units Hindustan Fertilizer Corporation Limited (HFCL) and Fertilizer Corporation of India Limited (FCIL) have submitted their draft rehabilitation schemes to Board for Industrial and Financial Restructuring (BIFR) for approval in connection with their revival.

According to the Department of Chemicals and Petrochemicals (DCPC), the Empowered Committee of Secretaries (ECoS) has submitted its recommendations for revival of the closed units of HFCL and FCIL.

As per the recommendations, the Sindri, Talcher and Ramagundam units of FCIL are to be revived through nomination basis by the consortium of PSUs.

Gorakhpur and Korba units of FCIL and Durgapur, Barauni and Haldia units of HFCL are to be awarded through a bidding process. The recommendation of the ECoS, were considered by the Cabinet Committee on Economic Affairs (CCEA) and approved with the stipulations that BIFR proceeding be expedited and thereafter, the matter including changes, if any, required in bid parameters, be placed before the Committee for a final decision.

As required under the rules, FCIL and HFCL have already submitted their draft rehabilitation schemes to BIFR for approval, the DCPC said.

The government has already decided in-principle to consider waiver of all pending liabilities of HFCL and FCIL against central loan and interest subject to availability of a fully tied up revival proposal for the closed units.

HFCL is a PSU engaged in the production and marketing of nitrogenous fertilizers. It was incorporated on 14 March, 1978 in pursuance of the decision of the government of India to reorganise the erstwhile Fertilizer Corporation of India.