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Joint venture agreement signed for Assam
Gas Cracker
New Delhi, 18 October 2006
The Joint Venture agreement for Assam Gas Cracker project has been signed
today. GAIL (India) Ltd., Numaligarh Refinery Limited, Oil India Limited and
Assam Government, are the promoters of the Joint venture company, signing the
Joint Venture agreement at GAIL this afternoon.
S P Rao, CMD, GAIL, M R Pasrija, CMD, OIL; B K Das, MD, NRL; P C Sharma,
Additional Chief Secretary, Government of Assam, and Neeraj Verma, MD, AIDC
signed the Joint Venture agreement at a simple function. B S Negi , Director
(BD), M R Hingnikar, Director (HR); Dr. U D Choubey, Director (Marketing), GAIL;
N M Borah, Director(operations) OIL ; T K Ananth Kumar, Director (Finance) and R
K Dutta, Advisor, Government of Assam along with senior officials from GAIL, OIL
, NRL and Government of Assam were present on the occasion.
The integrated Petrochemical Complex proposed to be set up at Lepetkata,
District Dibrugarh at a cost of Rs 5460 crores shall be implemented by a Joint
Venture Company to be promoted by GAIL with 70% equity participation. The
remaining 30% equity will be shared equally among OIL, NRL and Govt. of Assam.
The project will be completed in 60 months from the date of financial closure.
The site has been identified by the Govt. of Assam and necessary
Environmental clearance has been obtained. The Feedstock for the Petrochemical
Complex is 6.0 MMSCMD gas from Oil India Limited Duliajan and 1.35 MMSCMD gas
from Oil & Natural Gas Corporation Limited up to 31/3/2012 and 1.00 MMSCMD
thereafter. The Petrochemical Complex shall also utilize 160,000 TPA of
petrochemical grade Naphtha from Numaligarh Refinery Limited. The petrochemical
complex will comprise of a Gas Separation Plant, cracker unit, downstream
polymer and integrated off-site/utilities plants. The complex has been
configured with a capacity of 220,000 tons per annum of Ethylene and 60,000 tons
per annum of propylene.
The Products from the Petrochemical Complex shall be 220,000 TPA of HDPE/LLDPE,
60000 TPA of Polypropylene, 55000 TPA of Raw Pyrolysis Gasoline and 12,500 TPA
of Fuel oil.
This Project, besides providing economic boost to the region, would result in
substantial socio economic benefits.
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