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PSU floated to harness natural resources

Written by: Staff
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Guwahati, Sept 11 (UNI) The State Government has floated a public sector company christened "Asom Hydro Carbon and Energy" to explore the vast natural resources of the state for its economic growth.

The public sector company with an authorised capital of Rs 100 crore, was registered on August 31 last.

The company will participate in the bidding for exploration of the crude oil, to be organised by the Director General of Hydro Carban of India in New Delhi on September 15 next. The bidding will be held for six exploration blocks.

The public sector company was floated to explore the vast natural resources, including crude oil and natural gas.

Talking to newspersons here today, Asom Industries Minister Pradyut Bordoloi informed that strategic alliance will be forged with some other public sector companies even with some foreign companies for the exploration of the natural resources of the state.

He said several big companies had shown interest to work with the new state government-owned public sector company to explore the vast natural resources. " This will herold a new era in the economic development of the state, " he said.

" We may join hands with some big foreign companies also in this venture. We have received several fillers in this direction, " he said.

This public sector company will work for setting up of bio-diseal refineries, water refineries, power production based on natural gas, in the state in due course of time, he disclosed.

Canaro and Niko companies of Canada had already shown their interest to join hands with the new state company, besides oil India Limited and Gail, he said.

UNI AB SJC AKP1436

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