Joint venture company for Assam Gas Cracker unit signed

New Delhi, Oct 18 (UNI) The integrated Petrochemical Complex proposed to be set up at Lepetkata of Dibrugarh district of Assam at a cost of Rs 5,460 crores shall be implemented by a Joint Venture Company (JVC) promoted by GAIL with 70 per cent equity participation.

The remaining 30 per cent equity will be shared equally among OIL, NRL and Government of Assam. The project will be completed in 60 months from the date of financial closure.

The formal signing was executed at the GAIL office here. The products from the Petrochemical Complex shall be 220,000 TPA of HDPE/LLDPE, 60000 TPA of Polypropylene, 55000 TPA of Raw Pyrolysis Gasoline and 12,500 TPA of Fuel oil.

This project, besides providing economic boost to the region, would result in substantial socio economic benefits.

The site has been identified by the Government of Assam and ncessary environmental clearance has been obtained.

The Feedstock for the Petrochemical Complex is 6.0 MMSCMD gas from Oil India Limited (OIL) Duliajan and 1.35 MMSCMD gas from Oil and Natural Gas Corporation Ltd (ONGCL) up to March 31, 2012 and 1.00 MMSCMD thereafter.

The Petrochemical Complex also called Assam Gas Cracker unit shall also utilise 160,000 TPA of petrochemical grade Naphtha from Numaligarh Refinery Limited (NRL).

The petrochemical complex will comprise of 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 (TPA) of Ethylene and 60,000 tonnes per annum of propylene.

CMD, GAIL S P Rao, CMD, OIL M R Pasrija, MD, NRL B K Das, P C Sharma, Additional Chief Secretary, Government of Assam, and Neeraj Verma, MD, AIDC signed the Joint Venture agreement here.

UNI RT DKS BST1855