GAIL subsidiary BCPL seeks over `12k-cr subsidy

GAIL-promoted BCPL, which is setting up a petrochemical project 'Assam Gas Cracker Project', has sought subsidy of more than Rs 12,000 crore on account of feedstock and revenue for a period of more than 10 years after it starts operating.

GAIL is the main promoter having 70 per cent of equity participation in the Brahmaputra Cracker and Polymer Ltd (BCPL) and the rest 30 per cent is equally shared by Oil India Ltd (OIL), Numaligarh Refinery Ltd (NRL) and Government of Assam.

The Assam Gas Cracker Project will be the first ever project in the entire North-East at Lepetkata near Dibrugarh in Assam. The feedstock for the project will be natural gas and naphtha. OIL and ONGC will supply gas and naphtha shall be supplied by NRL.

‘BCPL have sought feedstock subsidy of Rs 8,965 cror over first 12 years and Rs 3,668 crore revenue subsidy over 10 years,’ a source said.