The Advantage Assam 2.0 Investment and Infrastructure Summit concluded on Wednesday with investment commitments in Assam totalling Rs 4,91,500 crore, Chief Minister Himanta Biswa Sarma said.
During the two-day summit, memorandums of understanding worth over Rs 2 lakh crore were signed in sectors including industries, power, mines and minerals, information technology, environment and forest, education, finance, health, culture, tourism, animal husbandry, cooperation, skill development, handloom and textiles, agriculture, science and technology, and water resources.
“The Advantage Assam 2.0 was a historic occasion for the state with historic investment commitments. It laid the course of future development of Assam,” Sarma said.
Earlier in the day, speaking at a thematic session on “Unlocking Assam’s Energy Potential: Building Future-Ready Oil and Gas Infrastructure, Innovation, and Investment Aligned with Global Energy Transitions” in the presence of Minister of Petroleum and Natural Gas Hardeep Singh Puri, Sarma said Assam has played a pioneering role in the forward march of India’s oil industry, which gained momentum in the late 19th century.
“Assam remains a key player in India’s energy sector, with vast hydrocarbon reserves and a skilled workforce,” he said.
He also said that the state’s oil and gas potential, extending to neighbouring regions, served as a stimulus for the development of the state.
Highlighting Assam’s position in India's energy map, he said the state contains 12 per cent of the country’s natural gas reserves and produces half of India’s onshore natural gas.
“With four operational refineries and a combined refining capacity of 7.45 million metric tonnes (MMT), Assam ensures a consistent supply of energy to fuel the nation,” the CM remarked.
Assam’s retail network includes 1,180 outlets, and its annual LPG consumption stands at a significant 0.5 MMT. Major players in the petrochemical sector, such as Brahmaputra Cracker and Polymer Limited, Assam Petro-Chemicals Limited, and Numaligarh Refinery Limited, also contribute substantially to the state’s revenues, with royalties and taxes amounting to over Rs 11,700 crore annually.
Stating that the horizon for Assam’s hydrocarbon sector is promising, Sarma said that by 2030, crude oil availability is projected to double.