Guwahati, April 18 -- National Fertilizers Limited (NFL), a state-owned enterprise, will invest around Rs 572 crore to acquire an 18% equity stake in a proposed joint venture to establish a urea plant in Assam.

In a regulatory filing on Friday, the NFL confirmed that its board has approved the decision to enter into a Joint Venture Agreement with selected partner companies to develop the Namrup-IV Fertilizer Plant.

The facility will be located within the existing premises of Brahmaputra Valley Fertilizer Corporation Limited (BVFCL).

The joint venture, which is currently in the process of being incorporated, will carry a total project cost of Rs 10,601.40 crore and will follow a debt-equity funding structure of 70:30. The Union Cabinet ...