PFC inks pact to provide `1,229 cr term loan to Assam Petrochemicals

New Delhi: Power Finance Corporation Limited (PFC) & Assam Petrochemicals Limited (APL) signed a loan agreement on Monday for extending a term loan of Rs 1,229 crore for implementation of 500 Tons Per Day (TPD) Methanol Plant including their 11 MW Captive Power Plant (CPP) at Namrup and 200 TPD Formalin Plant including their Captive 0.90 MW power plant at Boitamari in Assam State at an estimated Project Cost of Rs 1,827 crore 500 TPD Methanol Plant, including 11 MW CPP, was inaugurated by the Prime Minister of India on April 14, 2023 on completion.

The project, including 200 TPD Formalin Plant, is scheduled to commence commercial operation by March 31, 2024.

The signing occurred in a ceremony in the PFC Office, New Delhi, in the presence of PFC officials Parminder Chopra, CMD, Rajiv Ranjan Jha, Director (Projects); Manoj Sharma, Director (Commercial); H K Das, ED (Projects) and APL officials Bikul Ch. Deka, Chairman; Rajnesh Gogoi, Managing Director; Pramod Kr. Prasad, Director (Finance), along with other officials of PFC & APL.