BCPL signs Annual MoU for 2010-11

Brahmaputra Cracker and Polymer Limited (BCPL), a Government of India Enterprise, has signed the Annual Performance MoU for the year 2010-11 with the Ministry of Chemicals and Petrochemicals here on March 31, 2010. The MoU was signed by Mr. J K Singh Teotia, Managing Director, BCPL with Mr Bijoy Chatterjee, Secretary (Chemicals & Petrochemicals), Ministry of Chemicals & Fertilizers in the presence of Mr. B. C. Tripathi, Chairman, BCPL and Chairman & Managing Director, GAIL. 

Under the MoU, the performance of BCPL will be measured against various Project Related parameters such as Physical achievement, Financial achievement, Project implementation milestones; dynamic parameters such as Corporate Plan / Vision, Training of Personnel, Number of Mandays lost, Marketing tie-up and Sector Specific variables such as CSR initiatives and Health, Safety and Environment index.

GAIL (India) Limited led Joint Venture Company (JVC), Brahmaputra Cracker and Polymer Limited (BCPL) is implementing the Rs. 5,461 crore Assam Gas Cracker Project to set-up an integrated Petrochemical Complex at Lepetkata, District Dibrugarh. The Joint Venture Company (JVC) promoted by GAIL with 70% equity participation and the remaining 30% equity is shared equally among OIL, NRL and Government of Assam. The Assam Gas Cracker Project aims at facilitating the overall social & economic development of North- East region. This project of national importance and is being executed on fast track basis and is scheduled for commissioning by April, 2012. Engineers India Limited (EIL) are the Engineering & Project Management Consultant (EPMC). Plant is coming up on NH-37 at Lepetkata, around 15 kilometers from Dibrugarh city. This project shall provide direct & indirect employment to over 1,00,000 people. About 500 downstream industries are expected to be set up to manufacture various kinds of plastic goods/items using various grades of polymers that will be produced at Lepetkata plant. Plant is designed for a capacity of 280,000 PPA polymers. Financial closure has been achieved. Financial commitment of over Rs. 3,800 crore has been made. All the Process Technology Licensors have been selected and the process packages received. EIL is doing detailed engineering & floating tenders for award of procurement orders & contracts. Majority of the long lead & critical equipments have already been ordered. To ensure for its timely completion, the project progress is being monitored at the highest level in Central Government & Government of Assam.