Mumbai, July 9 -- The plan to revive India's first coal-based urea plant at Talcher, Odisha has gained steam as banks will start assessing the project afresh for lending up to Rs.10,000 crore, after being repaid about Rs.4,000 crore in existing loans, said two people aware of the development.

The promoters have repaid loans taken in 2021 to lenders led by State Bank of India (SBI), the people said on the condition of anonymity.

Talcher Fertilizers Ltd is owned by four state-run companies-GAIL (India) Ltd, Coal India Ltd, and Rashtriya Chemicals and Fertilizers Ltd control 31.85% stake each, while Fertilizer Corporation of India Ltd holds the rest.

The repayment by the promoters was necessary as loans would have otherwise turned sour si...