PFC signs loan agreement with APL worth Rs 12.29 billion

Power Finance Corporation Limited (PFC) has signed a loan agreement with Assam Petro-Chemicals Limited (APL) to provide a term loan worth Rs 12.29 billion. This loan will support the implementation of two plants in Assam: a methanol plant with a 500 tonnes per day (tpd) capacity, inclu­ding the 11 MW captive power plant (CPP) at Namrup; and a formalin plant with 200 tpd capacity, including the 0.90 MW power plant at Boitamari. The project entails an investment of Rs 18.27 billion. While the 500 tpd methanol plant, including the 11 MW CPP plant, was inaugurated in April 2023, the 200 tpd formalin plant is scheduled to commence commercial operations by March 2024.