Coal India Limited (CIL) is set to invest over Rs 1,067 crore in Talcher Fertilizers Ltd (TFL) by acquiring shares through a rights issue.

This significant investment is aimed at the revival of the defunct fertilizer unit of Fertilizer Corporation of India Limited (FCIL) in Talcher, Odisha, by establishing a new coal gasification-based fertilizer plant.

Coal India will invest Rs 1,067 crore by subscribing to 1,06,75,06,771 equity shares at a face value of Rs 10 each through a rights issue. The transaction is expected to be completed by July 9, 2025.

The primary goal is to set up India's first coal gasification-based ammonia urea plant at Talcher, utilizing domestic coal as feedstock.

This is a strategic move to reduce India's reliance on imported urea and achieve self-sufficiency in the fertilizer sector.