Don’t miss the latest developments in business and finance.

NRL focusing on Rs 20,000-crore expansion plan: Varadarajan

Image
Press Trust of India Guwahati
Last Updated : Sep 04 2015 | 7:13 PM IST
Numaligarh Refinery Limited (NRL) is focusing on its ambitious refinery expansion plan at an estimated cost of Rs 20,000 crore, along with initiatives to penetrate markets of neighbouring countries.
"The company is pursuing its ambitious refinery expansion from 3 MMTPA to 9 MMTPA which includes the envisaged 6.0 MMTPA crude oil pipeline for transporting imported crude from India's East Coast," NRL Chairman S Varadarajan told reporters here today.
This is a very aspirational project at a very high estimated project cost of Rs 20,000 crore which is expected to be completed within 48-54 months and meet the energy demand of neighbouring countries, he said.
The fund for the expansion plan is expected to be raised by debt-equity mix from stakeholders and the returns are expected to be high and the project would definitely be a viable one, the chairman added.
NRL has also undertaken initiatives to penetrate the markets of neighbouring countries and is pursuing a plan to lay a 135 kms petroleum product pipeline from its terminal at Siliguri to Parbatipur in Bangladesh to facilitate sustained export of motor spirits, he said.
Field survey and Detailed Feasibility Report (DFR) for the pipeline have been completed while an MoU has been signed between NRL and Bangladesh Petroleum Corporation to form a joint venture company for implementing the pipeline project, he added.

Also Read

First Published: Sep 04 2015 | 7:13 PM IST

Next Story