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KOCHHAR & CO. BAGS EIL-NFL-FCIL DEAL

Kochhar & Co. has been selected as the sole legal advisor to a consortium of Engineers India Limited (EIL), National Fertilizer Limited (NFL) and Fertilizer Corporation of India Limited (FCIL) for revival of the closed Ramagundam Fertilizer unit, Andhra Pradesh. The engagement of Kochhar & Co. has been through a bidding process, in which most of the top Law Firms reportedly participated. The Kochhar team is headed by Mr. Ngangom Junior Luwang (Partner) with Mr. Deepak Dahiya (Sr. Associate) and Mr. Avichal Prasad (Associate) as team members.

The engagement of Kochhar & Co. is part of the Government of India's ongoing effort to revive FCIL by re-activating FCIL's fertilizer plants at Sindri, Talcher, Ramagundam, Gorakhpur and Korba. The entire rehabilitation scheme is expected to involve waiver of around Rs. 9537.5 Crores by Government of India. For the Ramagundam plant, FCIL's equity contribution to the proposed JV is expected to be around 165 Crores (around 11%) out of 51% equity to be held by EIL, NFL and FCIL jointly.

The project is aimed at enhancing production of indigenous urea by at least 1.15 million MT in each of the fertilizer units.

Kochhar & Co. would be advising NFL, EIL and FCIL on all aspects of the ongoing BIFR proceedings, structuring and setting up of the EIL-NFL-FCIL JV, statutory/regulatory compliances and providing consultancy services on pending litigation/arbitration proceedings, drafting/vetting/negotiating Shareholders' Agreements, Concession Agreement etc.

 
 

 
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