Coal India, GAIL, RCF to partner to invest $372 mn in fertiliser JV

State-run firms, Coal India, GAIL India, and Rashtriya Chemicals & Fertilizers (RCF), will invest 30.95 billion rupees ($371.90 million) in their fertiliser joint venture in Odisha, two government officials told Reuters.

GAIL and RCF will put in 17.3 billion rupees, while Coal India will invest 13.64 billion rupees in Talcher Fertilizers to maintain their current stakeholding, adjusted for an increase in project costs, said the sources, who are not authorised to speak to the media.

Each of the three firms holds a 31.85% stake in Talcher Fertilizers.