New Delhi, March 19 -- The Union Cabinet on Wednesday approved the establishment of a new brownfield ammonia-urea complex at Brahmaputra Valley Fertilizer Corporation Limited (BVFCL) in Namrup in Assam, media reports said.

The facility will have an annual production capacity of 12.7 lakh metric tonnes (LMT) of urea and will be developed at an estimated cost of Rs.10,601.40 crore, reported Business Standard.

The Cabinet has granted approval for National Fertilizers Limited (NFL) to hold an 18 percent stake in the JV, exceeding the standard limits prescribed by the Department of Public Enterprises (DPE) guidelines.

An Inter-Ministerial Committee (IMC) will also be constituted to oversee the plant's establishment.

The project aims to enh...