Home / Knowledge / News / Textiles / Assam cracker project achieves financial closure
Assam cracker project achieves financial closure
17
May '11
Officials of Chemicals and Fertilizers Ministry revealed that, Brahmaputra Cracker and Polymer Ltd (BCPL), also known as Assam Gas Cracker Project has achieved financial closure with a syndicate of banks, headed by Punjab National Bank.

The deal involves loan agreements for Rs. 1.56 billion and capital and feedstock subsidy from government.

BCPL, a flagship petrochemical project floated by the Central government for the north-eastern region is setting up a plant to produce 220,000 tons per annum polyethylene (PE) and 60,000 tons per annum of polypropylene.

However, as against original deadline of April 2012, commissioning of the project has been deferred to July 2013.

A number of factors like bad weather, poor performance of contractors, labour strife, weak response from bidders and award of process technology licensors are being held responsible for the delay.

In order to ensure that the global volatility in crude oil does not affect the petrochemical production, the project would utilize naphtha as well as gas. Numaligarh refinery would supply naphtha for the project, while natural gas would be supplied by the Oil and Natural Gas Corporation.

Gas Authority of India Ltd is the main promoter of the BCPL and has a 70 percent stake in the project, while Numaligarh Refinery Ltd, Assam Industrial Development Corporation, Government of Assam and Oil India Ltd are other promoters.

Fibre2fashion News Desk - India

Must ReadView All

Textiles | On 10th Dec 2016

India’s 2016-17 cotton import to touch 17 lakh bales

The import of cotton from international markets by spinning mills in...

Textiles | On 10th Dec 2016

US textile & apparel imports fall 6.50% in Jan-Oct ’16

The import of textiles and apparel by United States dropped 6.50 per...

Unipar Carbocloro plant in the city of Cubatão, São Paulo state. Courtesy: Wikipedia

Textiles | On 10th Dec 2016

Brazil’s CADE clears Solvay’s 70.59% stake sale in Indupa

Brazil’s administrative council for economic defence (CADE) has...

Interviews View All

Sanjay Yagnik
Maa Tex Speciality

‘We suggest reducing dosage of sizing chemicals to reduce sludge...

Asim Dalal
Indo Count Retail Ventures

Today, there is no other emerging market as India, "we make in India and...

Amrit Sethia
SOIE

‘The intimatewear category in India is slowly becoming trend-sensitive.’

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
December 2016

December 2016

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


Advanced Search