Assam CM Raises Concern Over BCPL’s Rs 500 Cr Annual Loss, Calls for Permanent Solution

Assam CM Himanta Biswa Sarma says, “This organization has made a loss in the last two years, around Rs 500 cr annually, so they are now heavily dependent on bank

Assam CM Himanta Biswa Sarma says, “This organization has made a loss in the last two years, around Rs 500 cr annually, so they are now heavily dependent on bank loans and a lot of money they have taken from the bank. So, obviously, the project is having difficulty. BCPL is a joint venture with GAIL (India) Limited, holding a 70% stake, while the remaining 30% equity is equally shared by the Government of Assam, Numaligarh Refinery Limited (NRL), and Oil India Limited (OIL). We have to find some solution to take this project out of the financial crisis because if they keep on borrowing from banks, then they will face a major problem in the days to come… We have to think of a permanent solution…” #HimantaBiswaSarma #assam #OIL #northeastlive #northeast

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