Guwahati: The Advantage Assam 2.0 Investment and Infrastructure Summit concluded on Wednesday with investment commitments totaling Rs 4,91,500 crore for Assam, said Chief Minister of Assam Himanta Biswa Sarma.
Over the two-day summit, memorandums of understanding worth more than Rs 2 lakh crore were signed in sectors such as industries, power, mines, information technology, environment, education, health, tourism, agriculture, and more.
Sarma described the event as historic, marking a significant milestone in Assam’s development. “Advantage Assam 2.0 charted the course for the future development of Assam,” he said.
Earlier in the day, at a session titled “Unlocking Assam’s Energy Potential: Building Future-Ready Oil and Gas Infrastructure, Innovation, and Investment Aligned with Global Energy Transitions,” Sarma highlighted Assam’s role in India’s oil industry.
He stated that Assam has been central to India’s oil industry since the late 19th century, contributing significantly to India’s energy sector.
He also said that Assam holds 12 percent of India’s natural gas reserves and produces half of the country’s onshore natural gas.
“With four operational refineries and a combined refining capacity of 7.45 million metric tonnes (MMT), Assam plays a key role in ensuring a consistent energy supply to the nation,” Sarma added.
Assam’s retail network includes 1,180 outlets, and its annual LPG consumption is 0.5 MMT.
Major petrochemical companies like Brahmaputra Cracker and Polymer Limited, Assam Petro-Chemicals Limited, and Numaligarh Refinery Limited contribute significantly to the state’s revenues, generating over Rs 11,700 crore annually from royalties and taxes.
Looking to the future, Sarma stated that Assam’s hydrocarbon sector shows great promise, with crude oil availability expected to double by 2030.
The Chief Minister also thanked Prime Minister Modi for his guidance and presence at the summit.
He acknowledged the Union Council of Ministers’ support and expressed confidence that the success of the summit would lead to positive development for Assam.
Sarma also stated the importance of skilled labor to support the state’s new development paradigm and urged higher education institutions to prepare youth for Industry 4.0.
Union Minister Piyush Goyal praised Assam’s “7Ds”, democracy, demography, demand, diversity, dependability, digitization, and decisive leadership.
He commended Sarma’s leadership, noting that it would help Assam emerge as a key player in India’s economic growth, especially in trade and logistics.