NE region to emerge as the hub of India’s hydrocarbon trade with South Asian countries : Pradhan

NE region to emerge as the hub of India’s hydrocarbon trade with South Asian countries : Pradhan

Government mulls to make the Northeast region the hub of India’s hydrocarbon trade with South Asian countries. The Union ministry of petroleum and natural gas has proposed investment of Rs 130,000 crore in 15 years to revitalise hydrocarbon sector in the region, of which Rs 6,000 crore will be invested in the current fiscal.

“Work has started on North East Hydrocarbon Vision 2030, which proposes investments of Rs 1.3 lakh crore in 15 years in the hydrocarbon sector in the region. In Assam alone Rs 80,000 crore will be invested,” said minister Dharmendra Pradhan, who was in Guwahati on Friday.

“This is funded by public sector units. The idea is to increase the revenue share of hydrocarbon sector in Assam to state exchequer by at least two or three times. Presently the sector is contributing one-fourth of the total revenue of the state.”

“To meet the additional requirement of oil, crude will be imported from Nigeria and West Africa. This will come to Paradip from there to Assam. The ministry has sought VAT and entry tax waiver for imported crude,” he said.

“Northeast India will evolve as petroleum hub and meet the petroleum requirement of the Southeast Asian countries. In Northeast India around 5,000 km of pipeline will be added,” he added.

The per capita consumption of petroleum products in Assam is 62 kg while nationally it is 138 kg.

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