Centre to provide Rs 2,138 cr capital subsidy for gas cracker

Guwahati, Apr 11 (UNI) The Union Chemicals and Fertilizers Ministry will provide Rs 2,138 crore capital subsidy to the Asom Gas Cracker Project, the foundation of which was laid by Prime Minister Manmohan Singh in Dibrugarh district on April 9.

Out of this, Rs 60 crore has been provided for subsidy in this year's budget for the Ministry.

Official sources said the total subsidy amount to be provided by the Government is expected to be over Rs 3,000 crore.

Christened as the Brahmaputra Cracker and Polymer Limited (BCPL), the Rs 5,460.61-crore project is the biggest investment in any sector so far in the state.

The Ministry of Chemicals and Fertilizers will also monitor the implementation of the project through a high-powered committee led by the Secretary, Department of Chemicals and Petrochemicals.

Meanwhile, it is learnt that Union Minister of Chemicals, Fertilizers and Steel Ram Vilas Paswan has urged the management of the joint venture project to implement the project in 50 months instead of the proposed 60 months and make it internationally competitive by bringing in world class state-of-the-art technology.

He said over 1,00,000 people will get employment opportunity in industries associated with this project and other spill over benefits of industrial development like infrastructure and transport will be there. The Minister also urged the state government to make available the remaining required land expeditiously and fulfil other commitments.

The project will need 1,108 acres of land, of which, 542 acres have been provided by the state government.

UNI