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Industry News
Rs.2138 Crore capital subsidy to Assam gas cracker project in five years: Shri Paswan
Posted On : 2007-04-11 09:52:36( TIMEZONE : IST )
The Chemicals and Fertilisers Ministry will provide Rs. 2138 crore capital subsidy to the Assam Gas Cracker Project, the foundation of which was laid by the Prime Minister Dr. Manmohan Singh at Lepetkata in Dibrugarh district on Monday. Out of this Rs. 60 crore has been provided for subsidy in this year’s budget for the Ministry. The total subsidy amount to be provided by the Government is expected to be over Rs. 3,000 crore. The Ministry of Chemicals and Fertilisers will also monitor the implementation of the project through a high-powered committee led by the Secretary, Department of Chemicals and Petrochemicals.
The Minister of Chemicals, Fertilisers and Steel Shri 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 one lakh 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. He said better educational and health opportunities will also benefit the local population and improve their living standards.
Shri Paswan said, the project will need 1108 acres of land, of which, 542 acres have been provided by the State government. The Minister urged the State government to make available the remaining required land expeditiously and fulfill other commitments. He also urged the State government to take appropriate steps to create atmosphere for industrialisation.
He said, the Bramhapuram Valley Fertiliser Corporation at Namrup has improved its performance and production has increased, which has helped the farmers of the North-Eastern region through timely availability of fertilizer. Shri Paswan said the UPA Government under the leadership of Prime Minister Dr. Manmohan Singh has taken a number of path-breaking steps. He said, Public Sector Undertakings like HOCL, HIL, FACT and BPCL under the Ministry of Chemicals and Fertilisers have been revived. These undertakings were on the verge of closure after becoming sick. Besides, efforts are on to re-open the HFC/FCI plants and rehabilitate IDPL and MFL.
