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Steel Authority of India Takes Charge of Sindri Urea Project; Ministers Agree on Partial Decontrol of Prices

2:28 AM MDT | August 8, 2011 | Natasha Alperowicz

The Indian government has approved a project by the Steel Authority of India (Sail; New Delhi) to re-activate a urea complex at Sindri, India. The plan is part of a Rs35-billion ($781.3 million) investment by Sail, which will also include the construction of a steel plant, a power plant and the urea production facility. Sindri is one of eight urea complexes that the Indian government is re-activating to ease shortages of the product.   The project will be executed by a special purpose vehicle company with three individual subsidiaries taking care of the...

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