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Govt assures Rs.130,000 cr for hydrocarbon production in NE
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SME Times News Bureau | 10 Feb, 2016
Petroleum and Natural Gas Minister Dharmendra Pradhan said on Tuesday
that his ministry has proposed investment of Rs.130,000 crore in 15
years to ramp up hydrocarbon production in northeast India.
"Every
year an amount of Rs.10,000 crore will be invested. Around Rs.80,000
crore will be required for upstream activities, Rs.20,000 crore for
midstream and Rs.30,000 crore for downstream," Pradhan said while
releasing the the Hydrocarbon Vision 2030 for North East Region.
He
stressed upon a paradigm shift in production and utilization of
hydrocarbons to catalyze growth in the region and to improve standard of
living for the people, generate opportunities for the youth and create a
sustainable energy secure future.
"To achieve the Vision, it
would call for collaborative efforts of central and state governments
with the determination to bring the developmental shift the people of
northeast deserve. This will be a concrete step towards realizing our
prime minister's vision to develop the North East India in a mission
mode," he said.
The petroleum and natural gas ministry has
consciously and constantly focused efforts towards making hydrocarbons a
tool to enable social and economic development. One such initiative has
been the Hydrocarbon Vision 2030 for North East Region, which has been a
focused and consultative exercise to develop a common and shared
aspiration for benefiting people of the region. It not only includes the
ambition for the region but also an actionable roadmap.
"The
refining capacity of refineries will be increased from 7 mtpa (metric
tones per annum) to 16 MTPA. Every year we will invest Rs.10,000
crore... mostly this investment will be made in Assam. These projects
will be funded by the own resources of the hydrocarbon companies and in
couple of projects government will assist the same with viability gap
funding," said Pradhan.
The minister further said that around
7,000 KM of pipeline will be added in the region. "The region presently
has pipeline network of 3,263 km. Work for state-run oil
refiner-marketer Bharat Petroleum Corporation Ltd's Assam based
refinery, Numaligarh Refinery Limited's (NRL) ambitious bio-refinery
project will start this year," he added.
He said that the
objectives of the plan are to leverage the region's hydrocarbon
potential, enhance access to clean fuels, improve availability of
petroleum products, facilitate economic development and to link common
people to the economic activities in this sector.
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