Assam to Hold 40% Stake in Brahmaputra Valley Fertiliser Corporation Ltd.

Staff Reporter

GUWAHATI: The state Cabinet decided to hold 40 percent stakes in the Brahmaputra Valley Fertiliser Corporation Ltd. (BVFCL), a central PSU located at Namrup. The state government needs around Rs 4,000 crore for this share.

Speaking to the media after the Cabinet meeting today, Chief Minister Himanta Biswa Sarma said, “Discussion on the revival of BVFCL at Namrup has been going on for a long time. There were even talks on the setting up of a fourth unit of the fertiliser company. I requested the Hon’ble Prime Minister to take a decision on the revival of the Namrup Fertilizer company before February 2025. The Prime Minister entrusted the Union Finance Minister to find ways to revive the fertilizer company. Now, a DPR (detailed project report) has been prepared for its revitalization. The revival of the fertilizer company needs an investment of Rs 10,601 crore. The central government wrote a letter to us stating if the state government takes a 40 percent share of the company, the Centre will go ahead with its revival. Today’s cabinet has taken the remarkable decision to take 40 percent equity in BVFCL. Work for the fourth unit of the fertilizer company will start now. The state government’s investment in the company will be Rs 4,000 crore, a staggering investment for a state like Assam.”

The cabinet also decided to acquire 75 bighas of land for a judicial township at Rangmahal in North Guwahati. The Cabinet approved Rs 80 crore for land acquisition. The Chief Minister said that the Gauhati High Court will have its new campus in North Gauhati.

On Mission Basundhara 3.0, he said, “Today’s Cabinet approved submission of applications for allotment or settlement of lands under Mission Basundhara 3.0 without mandatory submission of the evidence, such as certificates of registration, trust deeds, etc., by entities like educational, religious, and cultural institutions. However, such organizations will have to submit their registration certificates when the government will offer them land settlement. Submission of applications for Mission Basundhara 3.0 will be closed on December 31, 2024. With this cabinet decision, clubs, namghars, educational institutions, etc., can apply for settlement under Mission Basundhara without government registration certificates.”

To improve rural connectivity in six districts in the state, the Cabinet approved construction of 14 rural road projects worth Rs 81 crore.

The cabinet also approved the conversion of the state government’s loans and grants to APDCL, AEGCL, and APGCL into equity in line with the provisions of the Indian government’s accounting standard (IGAS)-4.

Meanwhile, commenting on the incident in front of Raj Bhawan yesterday, the Chief Minister said, “The Congress has been trying to cause an incident in Guwahati for the past few days. Yesterday’s was the fourth attempt of the Congress. The governor was in Manipur when the Congress staged the protest. They tried to break the barricades. When the governor was out of station, what made them raise such a hue and cry? Their plan was to make the police open fire. However, luckily tear gas calmed the situation. The government will take action against the culprits.”

The Chief Minister raised the demand for an apology from Congress leader Rahul Gandhi for allegedly coming in close proximity to a woman MP from Nagaland in front of the Parliament today.

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