PM lays foundation of Rs5,460 crore Assam gas cracker project
09 Apr 2007
Mumbai: Prime minister Dr Manmohan Singh today laid the foundation stone of the Assam gas cracker project, now known as Brahmaputra Cracker and Polymer Ltd, that is expected to transform the economic landscape of Assam and the other North Eastern states, once it becomes operational in 2011.
The Rs5460.61-crore project coming up at Lepetkata 520km from Guwahati is being executed by GAIL and is expected to create direct and indirect job opportunities for 100,000 people. Once it goes on stream, the project is expected to attract substantial investments in downstream plastic processing and allied industries.
The
project will be set up with a capital subsidy of Rs2,138
crore from the union government.
The lead promoter of the project, GAIL holds 70 per cent interest in BCPL. The remaining 30 per cent equity is shared equally among Oil India Ltd, Numaligarh Refinery Ltd and Assam Government.
Oil India will supply 6 million standard cubic metres of gas per day from its Duliajan field to the petrochemical complex. Oil and Natural Gas Corp (ONGC) will supply 1.35 mmscmd gas for the plant till march 31, 2012 and 1 mmscnd thereafter.
The
plant shall also utilise 160,000 tonnes per annum of
petrochemical grade naphtha from NRL.