Reliance Petroleum Limited (RPL), a subsidiary of Reliance Industries Limited (RIL), on Thursday announced commissioning of its second refinery complex at Jamnagar, Gujarat. It would be the only-for-export oil refinery of the sixth largest refinery of the world.
With refining capacity of 5,80,000 barrels of crude oil per day, Jamnagar refinery has emerged as the ‘Refining Hub of the World’ boasting the largest refining complex with an aggregate refining capacity of 1.24 million barrels of oil per day in any single location in the world, RPL said in a released statement.
‘The secondary processing units are now under synchronization and commissioning and the entire refinery complex is expected to attain full capacity shortly, the statement added.
Mukesh D Ambani, RIL Chairman and Managing Director, said on achieving this historic milestone, “I am extremely proud of the entire team at Reliance which has worked together and commissioned this large and complex refinery in record time, which yet again demonstrates the strength of our project management skills.”
“We will leverage our competitive advantages of scale, complexity and capability to process a wide range of crude oils and flexibility to produce high quality transportation fuels and create significant value for all its stakeholders,” he said.
The refinery was completed within 36 months from concept to commissioning with an investment of $6 billion. ‘This is a record in building such a large-scale refinery despite significant shortfall in engineering and construction resources that has affected most other refinery projects globally,’ RPL said in the statement.
RPL refinery has been constructed adjacent to RILs existing refinery and petrochemicals complex, one of the largest and most efficient in the world which is in close proximity to Middle East- the largest crude oil producers- lowering its freight cost and shipping time.
After the announcement of this new refinery, the stock price of RPL today jumped to 12.30% early in the morning, but declined to close at 6.34% up.
|
|
Comments:
