[Assam] 5460 crore Asom Gas Cracker Project in Dibrugarh

[Pradip Kumar Datta]

Asom Gas Cracker company to float soon  
  NET News Network 
  Guwahati, July 28: The Joint Venture Company (JVC) meant for implementing the Rs 5460 crore Asom Gas Cracker Project in Dibrugarh district of Upper Asom will be a separate company.
  Well placed sources in GAIL (India) Limited said that the equity participation in the project is governed by decision taken by Cabinet Committee on Economic Affairs (CCEA) of the government of India.
  The CCEA had approved the equity structure of the JVC to be led by GAIL, with 70 percent equity participation. The remaining 30percent equity will be shared equally among Oil India Limited (OIL), Numaligarh Refinery Limited (NRL) and Asom Industrial Development Corporation (Government of Assam).
  He added that the JVC will be a separate company. A draft copy of the JVC was cleared by the Chemicals and Fertilizer Ministry and dispatched to the various stake-holders including Asom Government.
  However Asom government is vying for larger pie in the gas cracker project. It wants to increase its stake in the project to 26 percent. Sources added that new company is likely to be christened as Asom Gas Cracker Company and the JVC is slated to be formally floated in August this year.
  Sources in union fertilizer ministry said that miffed by the delay in execution of procedural works, Prime minister, Manmohan Singh has recently convened a meeting and entrusted union minister of state for fertilizers and chemicals, B.K Handique to see that work of project is carried on smoothly.
  He added that the Prime Minister’s Office (PMO) later issued directives to all concerned ministries to route all files connected with the Project through the Minister.
  He informed that the project, languishing for 21 years, is likely to formally take off, when the formation of the JVC is officially announced a new office set up in Guwahati. The foundation laying ceremony is scheduled for November. The formation of JVC is likely to be followed by appointment of 15- member board of directors.
  He said that search is on for a chief-executive-officer (CEO) for the JVC, who would see through the execution of the project. “We have short listed some senior bureaucrats and had a discussion with the Asom Chief Minister in this regard”, he added. http://northeasttribune.com/6342.htm
   

 		
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