Business Daily from THE HINDU group of publications
Saturday, Dec 02, 2006
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Business Daily from THE HINDU group of publications Saturday, Dec 02, 2006 ePaper |
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Corporate
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New Projects
Richa Mishra
Expansion plans MRPL proposes to expand its existing capacity to 12.5 mt from 9.69 mt by this year. Upgradation and expansion projects are estimated to cost Rs 7,943 crore.
Mangalore , Dec. 1 Adopting a cautious approach for its 15-million tonne greenfield refinery project in Mangalore, ONGC has decided to await the consultant report on the techno-economic viability of the project. Speaking to newspersons, Mr R.S. Sharma, Chairman and Managing Director, ONGC, said, "We are examining the project. The company is in talks for strategic partnership with some overseas companies that are willing to supply crude to the proposed 15-mt greenfield refinery in the Mangalore Refinery special economic zone." As regards expansion of the existing refinery of Mangalore Refineries and Petrochemicals Ltd (MRPL), Mr Sharma said that the company proposes to expand its existing capacity to 12.5 mt from 9.69 mt by this year and finally take it to 15 mt. The refinery upgradation and expansion projects are estimated to cost Rs 7,943 crore. The proposed greenfield project along with the expansion of the existing refinery would have effectively taken MRPL's refining capacity to 30 mt. As part of its upgradation plans of its existing refinery, MRPL has set up an isomerisation unit, installed at a cost of Rs 234 crore. This will enable MRPL to produce Euro-IV grade petrol. Further, the company has also commissioned mixed xylene production unit at a cost of Rs 51.86 crore. Speaking about ONGC's other refining plans — Rajasthan and Kakinada, Mr Sharma said, "The company is examining the prospects. Sustainability has to be ensured before going ahead with any new refining plans." While Engineers India Ltd has been appointed to do the techno-viability study for the Kakinada project, ONGC has appointed another international consultant to study the proposed greenfield project in Mangalore.
Rajasthan pipeline
Even while it has sought concession from the Rajasthan Government to set up a refinery in the State, ONGC, which is Cairn Energy's partner in Barmer oilfields, does not rule out the possibility of jointly building a pipeline from Barmer to a port location. According to the company, the pipeline project, expected to cost Rs 2,000 crore will become part of the field development project. As regards MRPL's retail plans, Mr Sharma said the company plans to roll out 30 retail outlets, including six in Tamil Nadu. The company is in talks for infrastructure sharing agreements with oil marketing companies, and taking initiatives on direct marketing of ATF and auto LPG.
More Stories on : New Projects | Petroleum | Oil & Natural Gas Corporation Ltd
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