SME Times is powered by   
Search News
Just in:   • Adani Group to invest Rs 57,575 crore in Odisha  • 'Dollar Distancing' finally happening? Time for India to pitch Rupee as credible alternative: SBI Ecowrap  • 49% Indian startups now from tier 2, 3 cities: Jitendra Singh  • 'India ranks 3rd in global startup ecosystem & number of unicorns'  • LinkedIn lays off entire global events marketing team: Report 
Last updated: 10 Feb, 2016  

North.East.9.thmb.jpg Govt assures Rs.130,000 cr for hydrocarbon production in NE

dharmendra-pradhan.jpg
   Top Stories
» 49% Indian startups now from tier 2, 3 cities: Jitendra Singh
» 'India ranks 3rd in global startup ecosystem & number of unicorns'
» Tripura exported over 9K tonnes of pineapples in 2 years
» CPI inflation eases to 6.71% in July, IIP falls to 12.3%
» Rupee depreciates 12 paise to close at 79.64 against US dollar
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.
 
Print the Page Add to Favorite
 
Share this on :
 

Please comment on this story:
 
Subject :
Message:
(Maximum 1500 characters)  Characters left 1500
Your name:
 

 
  Customs Exchange Rates
Currency Import Export
US Dollar
66.20
64.50
UK Pound
87.50
84.65
Euro
78.25
75.65
Japanese Yen 58.85 56.85
As on 13 Aug, 2022
  Daily Poll
PM Modi's recent US visit to redefine India-US bilateral relations
 Yes
 No
 Can't say
  Commented Stories
» GIC Re's revenue from obligatory cession threatened(1)
 
 
About Us  |   Advertise with Us  
  Useful Links  |   Terms and Conditions  |   Disclaimer  |   Contact Us  
Follow Us : Facebook Twitter