Prime Minister Narendra Modi inaugurated a petrochemical project in Lepetkata in Dibrugarh on Friday, which is the first such project of North-East. The project has been named as Brahmaputra Cracker and Polymer Ltd (BCPL). It has been built at cost of 10000-crore rupees and shall be producing raw material for manufacturing plastic.
Brahamputra Cracker and Polymer Ltd The project was initiated as part of the historic Assam Accord signed in 1985 ring the tenure of Prime Minister Rajiv Gandhi with the motive of overall socio-economic development of the North-east region. In 2007, then Prime Minister Dr. Manmohan Singh had laid its foundation stone. Stake: GAIL (India) Limited is the main promoter of this plant and has 70% of equity participation and rest 30% is equally shared by Oil India Ltd (OIL), Numaligarh Refinery Limited (NRL) and Government of Assam. Feed stock for the project: It will be Natural Gas and Naphtha. ONGC and OIL will supply Natural Gas and NRL will supply Naphtha.
Speaking at the inauguration ceremony, Modi said that that he was not supposed to inaugurate this project as it has been delayed. Modi said, “I don’t think I should have the opportunity to inaugurate these projects. This should have been done long ago.” He added that the with big projects getting delayed for no reason, the cost automatically increases and people have to suffer. Modi said that development of North-East region is one of the prime agenda of the central government and without it, the nation can not develop.
Highlighting the importance of completing projects in time, the Prime Minister said this would ensure employment generation, and avoid massive cost overruns. He said rapid industrial development of the country is necessary to create employment for India’s youth. In this context, the Prime Minister mentioned his PRAGATI initiative, which he said is giving impetus to stalled projects worth lakhs of crore rupees.