Numaligarh Refinery, a subsidiary of state-run Oil India, will make an investment of Rs 6,555 crore to set up a petrochemicals project at Numaligarh in Assam. The company also announced the formation of a joint venture (JV) between Assam Gas Company (AGCL) for the three geographical areas (GAs) offered by the Petroleum and Natural Gas Regulatory Board (PNGRB) under the 11th round of city gas distribution (CGD) bidding.
In October 2021, the Ministry of Petroleum & Natural Gas (MoPNG) has approved a revised project cost of Rs 28,026 crore for the ongoing Numaligarh Refinery expansion project to increase refining capacity from three million tpa to nine million tpa. This will be the single largest investment in northeast India. It also includes constructing a crude oil import terminal at the Paradip port in Odisha and laying of a 1,635 km long crude oil pipeline from Paradip port to Numaligarh.