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Kolkata, Sept. 17 The amalgamation of Bongaigaon Refinery & Petrochemicals Ltd (BRPL) with IndianOil will be in the best interest of the investors, the employees of the two organizations and, capping it all, the people of Assam as it will ensure long-term survival of the refinery in the current global competitive environment, according to Mr Sarthak Behuria, Chairman of BRPL (also the Chairman of IndianOil).

“The synergy between BRPL and the IndianOil is getting strengthened with each passing day, with the aim of becoming one with the completion of the merger process,” Mr Behuria observed while addressing the 34th of annual general meeting of BRPL at Dhaligaon in Assam recently.

He also referred to several achievements of BRPL during 2007-08 and these included highest ever distillate yield of 86.1 per cent, highest ever LPG yield of 2.36 per cent on crude throughout, lowest ever fuel loss of 5.29 per cent on crude throughput, lowest hydrocarbon loss of 0.2 per cent crude throughput, lowest ever energy consumption with MBN index of 90.4 and longest ever accident free period, equivalent of 24.5 million man hours.

The implementation of three key on-going projects, namely, the diesel hydro treatment project, MS quality improvement project and MS maximization project, Mr Behuria said, would enhance the financial strength of the company. In 2007-08, BRPL posted 50 per cent jump in net profit at Rs 294 crore, up from Rs 185 crore in the previous year.

The company also achieved a highest ever turnover of Rs 6,645 crore in 2007-08 and declared a dividend of Rs 5 per equity share (equivalent of 50 per cent, as compared to 35 per cent in 2006-07) of Rs 10 each.

More Stories on : Mergers & Acquisitions | Petroleum

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