Reliance Industries (RIL) announced the successful commissioning of the first phase of Para-xylene (PX) plant at Jamnagar, Gujarat. The announcement was made after market hours yesterday, 28 December 2016.
The plant with capacity of 2.2 million metric tonnes per annum (MMTPA) is built with state-of-the-art crystallization technology from BP which is highly energy efficient and environment friendly. With the commissioning of this plant, RlL's PX capacity will more than double from 2 MMTPA to 4.2 MMTPA. On commissioning of entire PX capacity, RIL will be the world's second largest PX producer with 9% of global PX capacity and 11% share of global production.
The new PX capacity will add value to the output from refineries and improve the profitability of the Jamnagar complex. PX is the building block for the entire polyester chain. The new capacity will complete the integration within RIL's polyester value chain, leading to improved margins and also strengthen its position in polyester industry globally.
Mukesh D. Ambani, Chairman and Managing Director, RIL, said the commissioning of the new PX plant marks beginning of the culmination of a series of projects including the refinery off-gas cracker, ethane import project and petcoke gasification. These projects are part of the largest contemporary investment, in excess of Rs 1 lakh crore, in Refining and Petrochemicals sector anywhere in the world. RIL's projects are on schedule and at an advanced stage of mechanical completion. The new PX capacity takes RIL a step closer to being among the top 10 petrochemical players globally, Ambani said.
Goa Carbon announced that the operations at the company's Bilaspur plant in Chhattisgarh had commenced from 27 December 2016. The company had earlier announced the temporary shut-down of this plant. The announcement was made after market hours yesterday, 28 December 2016.
Pratibha Industries announced that a meeting of the board of directors of the company shall be held on 4 January 2017, inter-alia, to consider and approve, the issue and allotment of shares on preferential basis to the lenders of the company under strategic debt restructuring (SDR) scheme. The announcement was made after market hours yesterday, 28 December 2016.
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