Assam Petro-Chemicals is likely to raise debt capital of Rs 635 crore from a cluster of 10 banks. It will be utilizing this fund to carry out its Rs 1,028-crore methanol-acetic acid project, which has been envisaged and is under implementation. At present, the company is implementing Rs 1,028-crore methanol-acetic acid project in the state. The project has equity participation of the state government, Oil India and Assam Gas Company.
Incorporated in 1971, Assam Petro-Chemicals was the first entity to manufacture petrochemicals in India using natural gas as feedstock.