Guwahati, March 19 -- The Union Cabinet, led by Prime Minister Narendra Modi, has approved the establishment of a new brownfield Ammonia-Urea Complex at the Brahmaputra Valley Fertilizer Corporation Limited (BVFCL) at Namrup in Assam's Dibrugarh district.

The project, designated Namrup-IV, will have an annual urea production capacity of 12.7 Lakh Metric Tonnes (LMT).

The approved project, with an estimated cost of Rs 10,601.40 crore, will be implemented through a Joint Venture (JV) with a 70:30 debt-equity ratio, adhering to the New Investment Policy, 2012.

The plant is expected to be commissioned within 48 months.

To facilitate the project, the Cabinet has also approved National Fertilizers Limited (NFL) to hold an 18% equity stake, ...