Himanta Biswa Sarma flags Rs 500 crore annual loss at BCPL, vows revival plan

Assam Chief Minister Himanta Biswa Sarma has raised concerns over the financial health of Brahmaputra Cracker and Polymer Limited (BCPL) in Lepetkata, Dibrugarh, revealing that the company has been incurring an annual loss of approximately Rs 500 crore for the past two years.

During his visit to BCPL, CM Sarma highlighted the critical financial challenges faced by the organization, citing its heavy dependence on bank loans, which has put the project in a difficult position.

"The road ahead for BCPL is challenging because this organization has been making a loss of around ₹500 crore annually for the last two years. They are heavily dependent on bank loans, which puts the project in a tough spot. If they continue borrowing from banks, they will face major problems in the days to come," CM Sarma stated.

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Despite the financial distress, CM Sarma assured that efforts are underway to resolve the crisis. He emphasized the collective responsibility of stakeholders, including Oil India Limited (OIL), Numaligarh Refinery Limited (NRL), the Assam government, and the Gas Authority of India Limited (GAIL), which holds a 70% stake in BCPL.

"Assam Government, OIL, and NRL hold a 30% stake in BCPL, while GAIL has the remaining 70%. Together, we are working on a solution to pull the company out of this financial crisis," he added.

The Chief Minister assured that the state government is committed to supporting BCPL and ensuring its sustainability. Further discussions and strategic decisions are expected to address the financial instability and chart a revival plan for the petrochemical company.