The financing arrangement for the 10.5 million tonne per annum (MMTPA) refinery at Vadinar (Jamnagar), Gujarat is progressing. Refinery is expected to go on stream in the last quarter of 2001. The company has so far spent Rs 46.05 billion for the implementation of the project.
The refinery will focus on maximising the production of middle distillates like Superior Kerosene Oil and Highspeed Diesel which constitute over 60 per cent of the Indian demand. It will also produce LPG, lead free motor gasoline of various octane levels needed for the domestic markets as well as high octane lead free gasoline for export.
Government guidelines on deregulation of the oil industry which allows for free import of crude oil to actual users and duty protection and permits retail marketing of petroleum products. This would lend a great boost to the viability of the project and open fresh business opportunities in terms of crude sourcing and marketing.
CORPORATE