Guwahati (Assam) [India], December 20 : The Assam government on Thursday approved an equity investment of 40 percent worth Rs 1272 crore in a Joint Venture to build the 4th unit of Brahmaputra Valley Fertilizer Corporation Ltd (BVFCL) in Namrup.
The decision was taken during the state cabinet meeting held under the chairmanship of Chief Minister Himanta Biswa Sarma at Lok Sewa Bhawan in Guwahati.
Announcing the cabinet decisions, CM Himanta Biswa Sarma said in a press conference that, BVFCL - a central PSU is engaged in gas-based Urea production in Namrup, Dibrugarh and with changing times its operations and production need to be augmented to meet current requirements.
"To revitalize its operations and give it a fresh lease of life, cabinet has approved an equity investment of 40 percent worth Rs 1272 crore in a JV to build Namrup - IV Unit," CM Himanta Sarma said.
He further said that, the central government will hold 60 percent equity share of the 4th unit of BVFCL and once operational, the plant's production capacity will be increased from the current 1.80 lakh MT of Urea and Ammonia to 12 lakh MT Urea and Ammonia.
To facilitate the construction of a State-of-the-art Judicial township in Rangmahal, North Guwahati, the state cabinet has approved a Non-A.A. financial sanction of Rs 80 crore for the acquisition of 75 bighas of patta land.
To improve rural connectivity in 6 districts of the state, the cabinet has approved the construction of 14 rural road projects worth Rs 81 crore.