NEW DELHI: The Centre will provide Rs. 200 crore as interim relief to Fertilizers and Chemicals Travancore Limited (FACT) to keep it operational and financially viable till 2011 when the company is due to switch to Liquified Natural Gas (LNG).
A decision to this effect was taken on Tuesday at a meeting of the Committee of Secretaries (CoS) set up to draw up the contours of a Special Dispensation Package for FACT.
While the modalities for the release of the interim relief will be worked out shortly, the CoS also decided to ask the Union Petroleum Ministry to provide FACT naphtha at cheaper rates, as its high cost had hiked the operational costs of the company.
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