Kopar Khairane
Interenational

PFC would contribute Rs 1,229 billion to the Assam methanol and formalin facility

<p>Assam Petrochemicals (APL) will get a term loan of Rs 1,229 crore from the Power Finance Corporation (PFC), a public sector organization, for the development of a methanol and formalin facility in Assam.<img decoding=”async” class=”alignnone wp-image-161049″ src=”https://www.theindiaprint.com/wp-content/uploads/2023/09/theindiaprint.com-pfc-would-contribute-rs-1229-billion-to-the-assam-methanol-and-formalin-facility-d-1.jpg” alt=”theindiaprint.com pfc would contribute rs 1229 billion to the assam methanol and formalin facility d 1″ width=”1234″ height=”821″ srcset=”https://www.theindiaprint.com/wp-content/uploads/2023/09/theindiaprint.com-pfc-would-contribute-rs-1229-billion-to-the-assam-methanol-and-formalin-facility-d-1.jpg 275w, https://www.theindiaprint.com/wp-content/uploads/2023/09/theindiaprint.com-pfc-would-contribute-rs-1229-billion-to-the-assam-methanol-and-formalin-facility-d-1-150×100.jpg 150w” sizes=”(max-width: 1234px) 100vw, 1234px” title=”PFC would contribute Rs 1,229 billion to the Assam methanol and formalin facility 3″></p>
<p>This financial assistance intends to make it easier to build a 200-tonne-per-day formalin factory in Boitamari, Lower Assam, and a 500-tonne-per-day methanol facility in Namrup, Upper Assam.</p>
<p>The PFC and the APL announced the signing of a credit agreement to make it possible for these projects to be realized in an official statement.</p>
<p>The deal calls for the development of two plants: a 500 TPD methanol facility in Namrup, linked with an 11 MW captive power plant (CPP), and a 200 TPD formalin plant in Boitamari, Assam, coupled with a captive 0.90 MW power plant.</p>
<p>Parminder Chopra, the chairperson and managing director (CMD) of PFC, as well as other directors and executives from APL, were also present at the signing event.</p>
<p>Upon completion, on April 14, 2023, the 11 MW CPP and 500 TPD Methanol Plant were dedicated by the Prime Minister.</p>
<p>By March 31, 2024, the complete project—which includes the 200 TPD Formalin Plant—will start performing commercial operations.</p>
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