A US-based firm is likely to set up a Rs 6,000-crore urea plant in Bhadrawati near Nagpur as talks are in final stage in this regard, Union Minister Nitin Gadkari said on Sunday.
“Negotiations with the concerned company have reached final stages and a number of meeting have been held with Chief Minister Devendra Fadnavis and Union Minister of State for Home Hansraj Ahir who represents the area (Chandrapur district),” the Transport Minister told reporters.
Maharashtra Government has already allotted a piece of land to the firm, he said, adding that Western Coalfields Limited (WCL) has agreed for coal linkage to the proposed plant.
“A final meeting with WCL and all concerned Ministers and officials is scheduled later this month and it (the deal) will be finalised within a month,” Gadkari said, adding that urea derived from coal is cheaper by Rs 10,000 per tonne.
He informed that state Finance Minister Sudhir Mungantiwar was in the process of finalising a proposal for setting up a farming unit for bamboos for making incense sticks, in the backward areas of Chandrapur and Gadchiroli.
“Presently, India is importing these logs from foreign firms at a whopping cost of Rs 40,000 crore per year. If this project picks up the import will be curbed, besides farming of bamboos will provide employment opportunities to local youths,” the minister added.