A 54 billion rupees (1.18 million U.S. dollars) integrated petrochemical project in Assam is expected to change the economic face of India's northeastern region, state Industry and Commerce Minister Pradyut Bordoloi said Sunday.

The project, popularly referred to as the Assam Gas Cracker, is to be implemented by the Gas Authority of India Limited (GAIL) with 70 percent equity participation in five years time.

The remaining 30 percent equity would be shared equally among Oil India Ltd (OIL), Numaligarh Refinery Ltd (NRL) and the Assam government.

"The Gas Cracker project is expected to help an estimated 100, 000 people get employment as a result of investments in downstream plastic processing industries and allied activities," Indo-Asian News Service quoted Bordoloi as saying.

According to preliminary estimates, at least 500 plastic processing industries are likely to come up in the region when this project becomes operational.

The project is to come up in eastern Assam's Dibrugarh district.

The petrochemical complex would comprise a cracker unit, downstream polymer and integrated off-site utilities plants.

The products from the proposed project would be 220,000 tons of polythene, 60,000 tons of polypropylene, 55,000 tons of raw pyrolysis gasoline and 12,500 tons of fuel oil per year.

Source: Xinhua