Thursday, June 12, 2008
RIL's new refinery to go on stream this year
Mukesh Ambani led Reliance Industries (RIL) will commission its new
refinery at Jamnagar this year. The new refinery will process 580,000
barrels of crude every day.
With the new facility, the total refining capacity at its Jamnagar
complex will go up from 0.66 million barrels to 1.24 million barrels.
Jamnagar will acount for 2 per cent of global petroleum refining
capacity.
"Of late there have been many announcements about setting up new
refineries in various part of the world. They are yet to see fruition.
Ours is the first large refinery added in recent times to meet global
demand,'' Mukesh Ambani, chairman of Reliance Industries, said.
Reliance would also be commissioning 900,000 tonne polypropylene
capacity this year. "This would make Reliance the third largest
polypropylene producer in the world,'' Ambani said.
RIL shares were trading at Rs 2218.90, 1.82 per cent down from
Wednesday's closure.
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