Cabinet Committee approves revised cost estimates of Assam Gas Cracker Project

The Cabinet Committee on Economic Affairs on Wednesday approved the revised cost estimates of the Assam Gas Cracker Project to the tune of Rs 8,920 crore (on as-built-basis). The project schedule has also been revised with mechanical completion by July 2013 and commissioning by December 2013. This would be funded by capital subsidy of Rs 4,690 crore as well as debt and equity of Rs 2,961 crore and Rs 1,269 crore respectively. In case, the planned loans do not materialise, the same would be picked up as additional equity by the promoters. According to an official statement, the revised capital subsidy would be sought by the Department of Chemicals and Petrochemicals from the Ministry of Finance, Planning Commission in the current fiscal and the next by way of additional budgetary support.
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