The Hindu Business Line : Paradip project: IOC may start tendering process soon

Kolkata. Aug. 16 IOC may start tendering the key process packages for the proposed 15-million-tonne Paradip refinery-cum-petrochemical complex in December 2007 or January 2008. The projects are, however, likely to be awarded early in the next fiscal once the IOC board approves final investment in the project, expectedly in March 2008.

“We have already identified all technologies and process licensors and are now working on the front end engineering which is expected to be over in next couple of months. Tenders for all key packages may be open for participation in December-January,” a senior company official said.

“We are expecting to go to board in March 2008 for the final approval to investments in Paradip,” he added.

Meanwhile, the company has appointed Engineers India Ltd for preparing a detailed feasibility report for process upgradation in Barauni refinery. The report is expected to be ready in December.

“We are planning a low-cost select process upgradation requiring an investment of Rs 1,000-1,500 crore so that the refinery can use 40-50 per cent of high-sulphur crude. This will enhance the refining margin by $2-3 a barrel,” the official said.

Set up in 1964, the six-million-tonne Barauni refinery is run on low sulphur Nigerian crude resulting into high operational cost. Sweet light Nigerian crude is generally costlier by $3-4 a barrel compared to heavy-sour Middle East crude.

Pre-feasibility report

A pre-feasibility report is also prepared for setting up a coker unit at eight million tonnes Mathura refinery. This will replace the present production of black oil in the refinery with due positive impact on the refining margin.

“We are expecting to approach the board in September seeking its approval for launching a detailed feasibility report on the project,” the official said.

Referring the ongoing Rs 23,000-crore capacity and process augmentation projects at Koyali refinery in Gujarat, Panipat in Uttar Pradesh and Haldia in West Bengal, the official said that all the projects progressing ahead of schedule.

More Stories on : New Projects | Petroleum

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
Glochem to sell drugs in US

Dewan Housing allots shares to Caledonia, Wadhawan Holdings

‘Labour imbalance bane of India’s garment productivity’

Paradip project: IOC may start tendering process soon

TCF-NADI setting up 2nd unit in Chennai

Polls may delay GSPC’s choice of partner

SAIL, Posco ink pact to share marketing network

DSCL completes land deal with DLF subsidiary

Mitsubishi Motors, HM ties to undergo significant change

Adani Wilmar ties up with Gulf retail chain

Malabar Cement goes live on SAP ERP

Hero to launch high-speed e-bikes

ONGC may raise crude output