 "PM's cash in hand only Rs 4,700; total assets over Rs 1 cr")
Prime Minister Narendra Modi will be dedicating the country’s largest wax producing plant to the nation tomorrow in Assam. Implemented by Numaligarh Refinery Limited (NRL), a subsidiary of Bharat Petroleum, the wax plant, which has an annual capacity of 50,000 metric tonnes (MT), was commissioned earlier in March 2015 at a cost of Rs 676 crore.
The wax plant is the country’s largest Wax producing unit with indigenous technology developed by Indian Institute of Petroleum (IIP) Dehradun, Engineers India Limited (EIL) and NRL. The company is now exploring opportunities to export wax to neighbouring countries aligning with the ‘Act East Policy’ of the Centre, said company sources.
“Leveraging on the inherent properties of wax rich crude oil from the oil fields of Assam, the plant is designed to produce superior quality paraffin and semi-microcrystalline wax and is a worthy manifestation of the ‘Make in India’ campaign of the Government of India”, said a company press release.
At present, a major part of the country’s annual demand for paraffin wax along with the entire demand for microcrystalline wax is being met through imports. NRL’s Wax plant is expected to minimise the supply deficit in the domestic market substantially, thus reducing imports.
The plant is also expected to open up opportunities for ancillary industries to thrive while creating avenues for large scale employment. The utility of paraffin wax lies in making candles, tarpaulin sheets, food grade wrappers and in PVC pipe manufacturing industries while microcrystalline wax finds widespread application in the manufacture of tyres, rubber products, paints and polishes, pharmaceuticals and cosmetics.
