New Delhi: The Cabinet Committee on Economic Affairs (CCEA) revised the estimated cost of Assam Gas Cracker Project from Rs 5,460.61 crore to 8,920 crore  citing rise in input and other costs.

Considered as an important project to promote plastic industries in the North-East states, the CCEA gave green signal to cost revision. The project is scheduled to begin from 2013.

In an important decision, the CCEA gave nod for packaging 90 percent of organic products and sugarcane in jute bags. The decision has been taken considering 3.7 lakh people who are currently employed in jute mills. 

CCEA also decided to form a committee to estimate the loss incurred by National Thermal Power Corporation (NTPC) after the Lohrinaag project was put on hold. The Committee will be presided by the Ministry of Power.

Notably, National Ganga River Basin Authority (NGRBA) in November 2010 ordered to stop the Lohrinaag Thermal Power Project midway. NTPC during that period spent nearly Rs 800 crore.
Besides, the Cabinet committee approved the proposal to table Import-Export (Amendments) Bill 2011 in the upcoming session of Parliament.

JPN/Bureau