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ASSAM GOVT TO RAISE ITS STAKE IN NRL TO 26% | Assam Current affairs 2021

Assam Current affairs 2021 : In todays Daily Assam Current affairs season we will discuss about the topic called ” ASSAM GOVT TO RAISE ITS STAKE IN NRL TO 26% “

Assam Current affairs

Highlights

• The Assam government will raise its stake in Numaligrah Refinery Limited (NRL) to 26% from the initial level of 12.35%

• Govt of Assam raised its stake in NRL to 18.59%; another 7.41% shall be acquired in near future. Total investment of Rs 2,187 crore, will be the highest ever investment by Govt of Assam in any PSU.

• On 27 may 2021, The chief minister Himanta Biswa Sarma said The Numaligarh Refinery (NRL) would increase its capacity from the existing 3 million metric tonnes (MMT) to 9 MMT, besides bringing 6 MMT crude oil to Assam from Odisha.

What is NRL ?

Numaligarh Refinery, popularly known as “Accord Refinery” is the largest among the four refineries operating in Assam. The refinery was set up as per Clause 7 of Assam Accord signed in 1985.

The refinery was commissioned in the year 2000 and since then consistently excelling in physical and financial performance. NRL was a subsidiary of Bharat Petroleum Corporation Limited (BPCL).

With the decision of the centre to privatize BPCL, NRL’s status as a Public Sector Enterprise was slated to be lost. To retain the public sector characteristics of the NRL, the Assam government accordingly took up the matter with the centre and decided to raise its stake in NRL to 26% from the initial level of 12.35%.

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