A three-member delegation led by ARCL CMD S R Mundrar had held meeting with Chief Minister Manik Sarkar and former Industry Minister Tapan Chakraborty in last September, Mr Choudhury said adding that ONGC and GAIL are also interested in the region.
''Now we are trying to finalise the project, as ARCL is still interested to invest Rs 600 Crore in Tripura and Urea Formaldehyde, Phenol Formaldehyde Resin and Bio-diesel would be produced initially using natural gas,'' Mr Choudhury stated. the added that Phenol Formaldehyde Resin, an important chemical component for manufacturing furniture from Rubber wood while bio-diesel is produced with 70 per cent palmolin and 30 per cent Jatropha liquid, which are proposed to be manufactured by the company in Tripura.
He, however, pointed out since, Tripura climate was favourable for Rubber and Jatropha cultivation, and the state has made its presence felt in the both the agro-based products, the state would be benefited out of the proposed Methanol factory.
According to ARCL's proposal, about 10 acares of land and two-lakh metric ton cubic metre natural gas per day along with sufficient water are required for setting up the factory with the production capacity of 210 MT chemicals per day. It preferred the western sub-division of the state Sonamura, situated at the bank of longest river Gumati as well as along Bangladesh border considering the availability of resources and transportation facilities both water and surface.
Besides providing natural gas for 104 MW Monarchak gas-based power project in west Tripura, to be commissioned by North Eastern Electric Power Corporation (NEEPCO), ONGC had also expressed its keenness to supply gas for setting up methanol production unit of ARCL.
Mr Choudhury has held meeting with industrial entrepreneurs yesterday and assured full support for industrial development in the state while sought support for ensuring sufficient jute production to revive Tripura Jute Mills Ltd (TJML), a state owned corporation had been running loss for past a decade.