FCIL meaning in Business ?

Answer: What is Fertilizer Corporation of India Limited mean?

Fertilizer Corporation of India is a government owned fertilizer manufacturer in India. It is under the ownership of the Ministry of Chemicals and Fertilizers , Government of India. It began in 1961 when Indian government consolidated several state run fertiliser companies into a single SBU. FCI has manufacturing units in five states: Sindri complex (Jharkhand), Gorakhpur complex (Uttar Pradesh), Ramagundam complex (Telangana), Talcher complex (Odisha) and an un-commissioned project in Korba (Chhattisgarh). The organisation was declared "sick" in 1992 and in 2002 the government of India initiated actions to close it. It has been seeking to restart operations and as of May 2010 had received initial approvals of a government loan forgiveness plan which would allow operations to restart in five of its units.

In 1978, FCIL was re-organised and five separate entities were formed – FCIL, National Fertilizers Limited (NFL), Hindustan Fertilizer Corporation Limited (HFCL), Rashtriya Chemicals & Fertilizers (RCF) and Projects and Development India Limited (PDIL) – (earlier the technology and development wing known as P & D). In the mid 1990s, FCI employed around 28,000 people and was one of the largest public-sector companies in India.

Apart from these manufacturing units, there were nine gypsum-producing units under Fertilizer Corporation of India Limited operating through another division, the Jodhpur Mining Organization – now renamed FCI Aravali Gypsum and Minerals India Limited (FAGMIL). Under the Sick Industrial Companies (Special Provisions) Act 1985, the Board for Industrial and Financial Reconstruction (BIFR) declared the Fertilizer Corporation of India Limited sick in 1992. Within the next decade, the Indian government concluded that all fertilizer production units of FCIL except Jodhpur Mining Organization were incurring heavy losses and decided to close FCIL. However, the main reasons for the loss incurred by FCIL were higher incidence of interest, higher input costs especially the power tariffs by the concerned State Electricity Boards and the associated raw materials, and higher consumption which was not reimbursed by the FICC.

The main products of Fertilizer Corporation of India Limited were Ammonia, Urea, Nitric Acid, Ammonium Bicarbonate, Gypsum, and Ammonium Nitrate in varied forms such as Prill, Flake, and Melt.

reference

Full Form	Category
First Capital Investments Limited	Business
Fertilizer Corporation Of India Ltd	Business
Fertilizer Corporation of India Limited	Business
Fondation Communale Immobiliere De Lancy	General
Fondo Canadiense para Iniciativas Locales	General
Fuel Cap Indicator Lamp	General
Foreign Comparative And International Law	International
Foreign Comparative International Law	International