Assam Petro-Chemicals Limited (APL) was conceived for productive utilization of natural gas, which was being flared up in the Upper Assam oil fields. Only a small quantum of natural gas was then used in fertilizer industry and power generation. To prevent this colossal wastage, the company was set up by Government of Assam with joint participation of Assam Industrial Development Corporation Ltd (AIDC) and the public. Incorporated in 1971, the company was a pioneer in the field as it was the first to manufacture petrochemicals in India using natural gas as feedstock. It started with a small Methanol plant with Formalin and a few Urea Formaldehyde resins as downstream projects with technology supplied by Mitsubishi Gas Chemicals Co. Inc, Japan. Commercial production began in 1976. To augment its capacities to meet increasing demand for its products, a bigger Methanol plant with 100TPD capacity was commissioned in 1989 with technology supplied by ICI, UK and a 100 TPD Formaldehyde Plant in 1998 with technology from Derivados Forestales of Netherlands which was then revamped to 125 TPD in the year 2012.
Assam Petro-Chemicals Ltd. is now implementing a mega project of 500TPD Methanol and 200 TPD Formaldehyde plant as an expansion project of the company at a total cost of Rs. 1337 crore. Implementation of the 500 TPD Methanol project is going on at the adjacent plot of existing plant at Namrup in Dibrugarh district of Assam. Implementation of 200 TPD Formalin project is about to start at Boitamari in Bongaigaon District. Governor of Assam, Oil India Limited and Assam Gas Company Limited are investing in equity capital for implementation of 500 TPD Methanol and 200 TPD Formalin project. Government of Assam alongwith Assam Gas Co. Ltd and AIDC Ltd. will hold 51% of shares and Oil India Ltd. will hold 49% of the equity capital of the company.
The company (APL) intends to appoint a Chartered Accountant / Cost Accountant Firm for conducting internal audit of the functions and all activities of the company for the Financial Year 2022-23. The firms are therefore requested to send their Proposal as per the Terms of Reference described in Sections II, III & IV.