Briefing reporters, RCF Chairman & Managing Director R G Rajan said after stake sale, the government’s holding could fall by 12.5-17.5 per cent from 92.5 per cent. He declined to comment on the exact quantum of money to be raised.

He said RCF has undertaken Thal plant revamp to augment its capacity from 1.7 to 2 million tonne of Urea. He said phase I implementation is over, while phase II is expected to be completed by November this year. RCF is working for expansion of Thal unit by setting up an ammonia-urea stream for producing 1.15 million mt of additional urea.