Dr Siba Prasad Mohanty, Managing Director, Hindustan Urvarak & Rasayan Limited (HURL) has taken over charge as the first MD of Assam Valley Fertilizer and Chemical Company Limited (AVFCCL) with effect from August 6.

AVFCCL is a joint venture of Government of Assam (GoA), National Fertilizers Limited (NFL), Oil India Limited (OIL), Hindustan Urvarak & Rasayan Limited (HURL), and Brahmaputra Valley Fertilizer Corporation Limited (BVFCL).

The authorized capital of the company is 10 crores and paid up capital is 10 lakh. AVFCCL is a 40:18:18:13:11 JVC among GoA, NFL, OIL, HURL, and BVFCL.

The Joint Venture is for setting up of a new ammonia-urea complex Namrup IV Fertilizer Plant at Namrup, Assam.