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Joint venture pact for Assam gas cracker signed

Our Bureau

The site has been identified and necessary environmental clearance has been obtained.

New Delhi , Oct. 20

A joint venture agreement for the Assam gas cracker project has been signed among GAIL (India) Ltd, Numaligarh Refinery Ltd (NRL), Oil India Ltd (OIL) and Assam Government here. These entities are also the promoters of the joint venture company to implement the project.

The integrated petrochemical complex proposed to be set up at Lepetkata, Dibrugarh, at a cost of Rs 5,460 crore will be implemented by a joint venture company, to be promoted by GAIL with 70 per cent equity participation. The remaining 30 per cent equity will be shared equally among OIL, NRL and the Assam Government. The project will be completed in 60 months from the date of financial closure, an official communiqué said.

The site has been identified by the State Government and necessary environmental clearance has been obtained, the statement said. The feedstock for the petrochemical complex is 6.0 million standard cubic metres of gas per day (mmscmd) from OIL, Duliajan, and 1.35 mmscmd from Oil & Natural Gas Corporation up to March 31, 2012 and 1.00 mmscmd, thereafter. The petrochemical complex would also utilise 160,000 tonnes per annum (tpa) of petrochemical grade naphtha from NRL. The complex will comprise 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 tpa of ethylene and 60,000 tpa of propylene.

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