Newly formed Assam chief minister Himanta Biswa Sarma, in its first cabinet meeting on Tuesday, approved the state’s biggest-ever budget worth over Rs 2,000 crore to raise its stake in the Numaligarh Refinery Limited (NRL).The state expects dividends worth Rs 900 crore annually from this move.
In the month of March 2021 last, BPCL had sold its entire 61.5% stake in NRL to a consortium of OIL and Engineers ,India and the Assam government for Rs 9,876 crore. OIL bought a 54.16% stake to raise its shareholding in the refinery to 80.16%.
People of Assam have an emotional attachment with NRL and so the newly formed state government has decided to raise its stake from existing 12.35% to 26%.”
Assam government has till now received dividends worth more than Rs 1200 crore from NRL and after raising its stake, the state will get Rs 900 crore as dividend every year. “ This amount will increase the value of the state’s revenue,”