CabinetCommittee on Economic Affairs (CCEA) chaired by Prime Minister Narendra Modi hasapproved the transfer of administrative control of Brahmaputra Cracker andPolymer Limited (BCPL). The administrative control has been transferred to ministryof petroleum & natural gas.
Union Minister Prakash Javadekar said the CCEA has also approved the feedstock subsidy to BCPL for 15 years of plant operation to maintain minimum Internal Rate of Return (IRR) of 10 percent (post-tax). To bring the IRR to 10 percent, BCPL has estimated feedstock subsidy of approximately Rs. 4600 crore for the project for 15 years of plant operation.
The BCPL is implementing the Assam Gas Cracker Project (AGCP). The project is seen as a part of the implementation of the Assam accord.
Meanwhile, welcoming the CCEA decision, Assam chief minister Sarbananda Sonowal tweeted, "This decision will provide further impetus to our growth story & open new opportunities for the youth."
