Power Finance Corporation Partners with Assam Petrochemicals for Methanol and Formalin Plants
Power Finance Corporation (PFC) and Assam Petrochemicals Ltd (APL) have joined forces to finance the creation of a 500 TPD methanol plant and a 200 TPD formalin plant in Assam, backed by a substantial Rs 1,229 crore term loan. The Namrup Methanol Plant, inaugurated in April 2023, signifies a significant milestone, with the Formalin Plant set to commence operations by March 2024. APL, a vital player in the region’s chemical industry, has expanded its reach into neighboring countries. This partnership exemplifies PFC’s dedication to advancing the northeastern region’s economic growth.