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Proposed Gas cracker eye markets in China, Myanmar
The proposed Rs 5460 crore Gas Cracker project, to be set by Gas Authority of India Limited (GAIL), Oil India Limited (OIL), Numaligarh Refinery Limited (NRL) and Oil & Natural Gas Corporation (ONGC) in upper Asom, is eyeing Chinese, Bangladesh and Myanmar market.
Netindia123.com : 12 August, 2006
Guwahati: The proposed Rs 5460 crore Gas Cracker project, to be set by Gas Authority of India Limited (GAIL), Oil India Limited (OIL), Numaligarh Refinery Limited (NRL) and Oil & Natural Gas Corporation (ONGC) in upper Asom, is eyeing Chinese, Bangladesh and Myanmar market.
Talking to media persons last night, Asom Chief Minister Tarun Gogoi, after overseeing the project, said the project would target these markets.
GAIL would hold 70 per cent equity and the remaining thirty percent of the Rs 5460 crore project have been picked up by Oil India Limited (OIL), Numaligarh refinery Limited (NRL) and Oil & Natural Gas Corporation (ONGC).
The Gas Cracker unit would produce polymers, the mother feed of all plastic products. The project is the outcome of the Asom Accord signed in 1985.
Union Minister of state for chemicals and fertilizer B K Handique said the project is expected to give rise to a substantial employment generation to the tune of 1,00,000 both direct and indirect.
It would attract substantial investments in setting up of a downstream plastic processing industries.
He said GAIL and Ministry of Petroleum and Natural Gas have also projected that there would be sufficient demand for the product, which could be exported to neighboring countries like China, Bangladesh and Myanmar.