JV to promote Assam gas project
GAIL, NRL, OIL and Assam govt have signed a JV agreement to promote Assam gas cracker project.india Updated: Oct 18, 2006 19:08 IST
Gas utility company GAIL (India) Ltd, Numaligarh Refinery Ltd (NRL), Oil India Ltd (OIL) and Assam Government on Wednesday signed a joint venture agreement as promoters for the Assam gas cracker project.
The integrated petrochemical complex proposed to be set up at Lepetkata, Dibrugarh district, at a cost of Rs 5,460 crore shall be implemented by a JV company (JVC) 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 Assam Government. The project will be completed in 60 months from the date of financial closure.
The petrochemical complex will use 1,60,000 tonnes per annum (TPA) of petrochemical grade naphtha from Numaligarh Refinery Limited (NRL). The petrochemical 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 tonnes per annum of ethylene and 60,000 tons per annum of propylene.