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PFC Signs Pact to Extend Rs 1,229cr Term Loan to Assam Petrochemicals

Power Finance Corporation (PFC) has signed a pact to extend a term loan of Rs 1,229 crore to Assam Petrochemicals (APL), whereby the latter would implement a 500 tpd methanol plant at Namrup and 200 tpd formalin plant at Boitamari in Assam. The loan agreement was signed on 4 September, 2023.

 

The project has at an estimated project cost of Rs 1,827 crore and includes 11 MW captive power plant (CPP) at Namrup and a 0.90 MW CPP at Boitamari.

 

Commercial operations are scheduled to commence by 31 March, 2024.

 

While PFC's assistance will support development in the north-eastern region, APL has also expanded its business to Bangladesh, Bhutan and Nepal.

 

APL is a state public sector undertaking of the Government of Assam (GOA), comprising GOA, Assam Industrial Development Corporation (AIDCL), Assam Gas Company (AGCL) and Oil India.

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