Centre gives nod to 5460 cr gas cracker project

Guwahati, May 13: Asom Chief Minister Tarun Gogoi today said that the Congress-led UPA government has given nod to the Rs 5460 crore gas cracker project, which was shelved since 1980s.

Calling it a gift to the people of the state from the UPA government after the Congress' victory in the polls, Mr Gogoi said the project would be set up, for which Rs 2138 crore capital subsidy has been sanctioned.

He informed that GAIL would have 70 per cent stake in the project while Asom Industrial Development Corporation (AIDC), Oil India Limited (OIL) and Numaligarh Refinery Limited (NRL) would have 10 per cent stake each in the joint venture project, which was one of the clause in Asom Accord of 1985.

Initially Reliance Industries had proposed to set up the project but it had developed cold feet because of problems related to gas supply to the project.

UNI