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Our Bureau

New Delhi , Sept. 23

RELIANCE Industries Ltd (RIL) will invest about $ 5.7 billion to raise capacity of its Jamnagar refinery to 60 million tonnes by 2009.

"The expansion would be completed sometime in 2008-09 financial year," Mr P.M.S. Prasad, President and CEO-Petroleum Business, RIL, said on Friday. The refinery currently has a capacity of 33 mt a year.

Reliance will start work on a planned refinery expansion next year. Currently, the refinery is operating at 100 per cent capacity, he said, adding that most of the expanded capacity would be for export markets in North and South America, the Gulf countries, Europe and some countries in Africa. The company is also looking at exporting almost 35 per cent of its output this year, Mr Prasad said. Earnings from processing each barrel of crude oil into fuel products are expected to be around $10, he said.

RIL expects its oil product output to rise by about 10 per cent after a planned maintenance shutdown of two units. It is shutting down one crude distillation unit and a catalytic cracker unit at the Jamnagar refinery from October for about eight weeks. "We'll try to maximise the yield of products from the refinery by processing the same volume of crude. We expect the yield to rise about 10 per cent." The refinery can process 6,60,000 barrels of crude oil a day.

The shutdown will affect supplies of LPG, petrol and diesel. The public sector oil companies have sought a deferment of the 42-day shutdown of Jamnagar refinery from October 1, 2005 to March/April 2006 because of the possibility of an alarming shortage of LPG during peak demand season.

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