Assam: BCPL Bleeds, Incurs Rs 500 Cr Annual Loss, CM Calls for Permanent Solution

Chief Minister Himanta Biswa Sarma said that the heavy losses have made the BCPL heavily dependent on bank loans

Assam Chief Minister Himanta Biswa Sarma has raised concerns over the financial crisis faced by the Brahmaputra Cracker and Polymer Limited (BCPL), revealing that the company has suffered losses of around Rs 500 crore annually over the past two years.

CM Sarma said that the heavy losses have made the organization heavily dependent on bank loans, raising fears of a worsening financial situation if corrective measures are not taken soon.

“This organization has made a loss in the last two years, around Rs 500 cr annually, so they are now heavily dependent on bank loans and a lot of money they have taken from the bank. So, obviously, the project is having difficulty,” said CM Sarma.

BCPL, a joint venture company, has its majority stake (70%) held by GAIL (India) Limited, while the remaining 30% equity is equally shared by the Government of Assam, Numaligarh Refinery Limited (NRL), and Oil India Limited (OIL).

Acknowledging the gravity of the situation, Chief Minister Himanta Biswa Sarma stressed the need for a permanent solution to rescue BCPL from its ongoing financial crisis.

“We have to find some solution to take this project out of the financial crisis because if they keep on borrowing from banks, then they will face a major problem in the days to come.We have to think of a permanent solution,” CM Sarma added.

Prime Minister Narendra Modi inaugurated the BCPL on February 5, 2016. The project was established as a key component of the historic Assam Accord, aimed at boosting industrial development in the region.

Over the past 9 years of operation, BCPL has played a crucial role in India’s petrochemical sector, contributing to employment generation and economic growth in Assam.

However, despite its strategic significance, the company’s financial sustainability remains a pressing concern, with mounting losses and increasing reliance on bank loans threatening its long-term viability.

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