GUWAHATI: A memorandum of understanding (MoU) for a Rs 15,000 crore investment in Assam will be signed by the state's administration and an industrial company.
With an industrial group, we are establishing a new contract for an investment of Rs 15,000." After the PM visits the state, we will sign the MoU," Sarma stated. The Chief Minister asserted: "Industrial companies come to those places which have payment capacity. This is why more industrial firms are investing in the state. Industries are moving up to Assam as a result of the state's expanding GDP.
Bangladesh methanol export plans are expected to be abandoned
The Indian government's plans to export methanol to Bangladesh may have hit a roadblock, with recent reports suggesting that the Centre is likely to shelve these plans.
Sarma added, "We also improved the state's industrial policy to attract investors. We are also working with the Centre to develop a beneficial industrial policy for the area, which will be very different from previous strategies. Policies used to be created with investments between Rs 100 and Rs 200 crore in mind. We are considering going large," Sarma added. Get Export Import data
He stated that on April 14, Prime Minister Narendra Modi will virtually inaugurate the 700 TPD methanol facility of Assam Petrochemicals Ltd (APL) at a ceremony at Sarusajai Stadium.
"Over the past ten years, Assam's public sector has not seen any significant investments. The state government has made a major investment in the APL. Our first significant investment came during the previous two or three years.
The Indian government announced its plan to export methanol
Methanol, also known as wood alcohol, is a clean-burning fuel that can be produced from a variety of sources such as natural gas, coal, and biomass. It is considered an alternative to gasoline and diesel due to its lower emissions and cost-effectiveness.
However, the Indian government announced its plan to export methanol to Bangladesh as part of its efforts to strengthen bilateral ties between the two countries. The proposal involved setting up a plant in India's eastern state of Assam to produce methanol and transporting it via a pipeline to a Bangladeshi port.
However, the plan has faced several challenges since its announcement. One of the main challenges has been the high cost of setting up the plant and the pipeline infrastructure. Moreover, there have been concerns about the environmental impact of the proposed plant and pipeline on the ecologically sensitive areas in the region.
In addition, there have been doubts about the demand for methanol in Bangladesh. Although methanol is used as a feedstock in several industries, including the production of formaldehyde, acetic acid, and methyl tert-butyl ether (MTBE), its use as a transportation fuel is limited in the country. Bangladesh relies heavily on imported oil to meet its energy needs and is in the process of expanding its liquefied natural gas (LNG) infrastructure.
The recent notification that the Centre is likely to shelve its plans to export methanol to Bangladesh comes as a blow to the government's efforts to promote cleaner and more sustainable fuels. Methanol has the potential to play a crucial role in reducing India's dependence on imported oil and meeting its growing energy demands. The country is the third-largest oil importer in the world, and its demand for energy is expected to double by 2040.
Moreover, methanol can help to reduce carbon emissions and air pollution, which are major public health concerns in India. Methanol blends have already been successfully tested as transportation fuels in several Indian cities, including Mumbai, Pune, and Guwahati.
Despite the challenges and setbacks, it is important for the government to continue exploring the potential of methanol as a clean-burning fuel. This can be achieved by investing in research and development, promoting the use of methanol blends in transportation, and incentivizing the production of methanol from renewable sources.
In conclusion, while the decision to shelve plans to export methanol to Bangladesh may be disappointing, it is important to remember that there are still many opportunities to explore the potential of methanol as a cleaner and more sustainable fuel in India. The government must continue to work towards promoting the use of methanol and other alternative fuels to reduce the country's dependence on imported oil and tackle the pressing issue of air pollution. Also, if you require Export import data in India, HS Code, and much more, connect with Seair Exim Solutions to obtain the best import and export data globally.
