New Delhi, January 16 (MExN): The Cabinet Committee on Economic Affairs (CCEA) chaired by the Prime Minister Narendra Modi, has approved the project for capacity expansion of Numaligarh Refinery from 3 MMTPA (Million Metric Tonne Per Annum) to 9 MMTPA. The expansion will also involved the setting up of crude oil pipeline from Paradip to Numaligarh and product pipeline from Numaligarh to Siliguri.
A press release from Press Information Bureau stated that the total project will cost of Rs. 22,594 crore which will be financed by a mix of debt, equity and Viability Gap Funding (VGF). The project is to be completed within a period of 48 months, after approval and receipt of statutory clearances.
The expansion of the refinery will meet the deficit of petroleum products in the North East and sustain the operations of all North East refineries by augmenting their crude availability. It will generate direct and indirect employment in Assam and is a part of the Government's Hydrocarbon Vision 2030 for the North East.
