25
Monday
June 2018
6:02 AM IST
News Headlines
Dantewada: Goods train derailed, Naxal hands suspected        Never planned to meet Railway Minister Piyush Goyal in Delhi: Kerala CM Pinarayi Vijayan        GST rides on federalism: Narendra Modi        15 Killed, 10 Injured as Tractor-trolley Falls Into Canal in Telangana        Saudi Arabia's ban on women driving ends officially        White House spokesperson Sanders says she was kicked out of restaurant        Germany: Huge explosion rips through apartment building, leaves 25 injured        Hat-trick hero Kane helps England reach knockouts after beating Panama 6-1        Roger Federer loses No.1 spot as Borna Coric stuns him in Halle Open final        Federer beats Kudla to reach 12th Halle final        Hockey: Clinical India crush Pakistan 4-0 in CT opener        Infosys stable and on verge of something momentous: Nilekani        Boko Haram raid kills five in Nigeria: residents        Musharraf says he has not quit politics        AP will be torn apart if 'monkey gangs' come to power: CM        Congress neglected development of cities: PM        BJP will not allow Kashmir to get disintegrated from India: Shah        Wary of hacks, World Cup teams get serious on cybersecurity        You pass YoYo test, you play for India, says Shastri, Kohli endorses        Prof Debashis Chatterjee assumes charge as Director of IIM-K        
Home   | Main News   | Kerala  | National   | International  | Business   | Sports   | Entertainment   | Columns   | Offbeat   | About Deepika 
Business News
Gujarat Refinery to invest Rs 24k cr on projects till 2022
 
Vadodara, Mar 7 (PTI) Indian Oil-owned Gujarat Refinery on the outskirts of Vadodara city will invest about Rs 24,174 crore on new projects and expansions in the next five years, a senior company official said today.

These include capacity expansion to 18 MMTPA, at a cost of Rs 15,034 crore, oxo-alcohol petrochemical project (Rs 4,157 crore), Linear Alkyl Benzamine (LAB) revamp project (Rs 288 crore), BS-IV (Rs 1,315 crore) and BS-VI (Rs 3,380 crore), Gujarat Refinery executive director, Sudhir Kumar told reporters here.

According to him, these will generate direct employment of about 200 persons and indirect employment to about 10,000 people at the peak phase of project executions.

"Alongside improving the refinery s energy performance as well as its ability to meet growing regional demand for finished products, the expansion and reconfiguration project also aims to equip the plant with greater flexibility to weather future disruptions in the supply-demand scenario and more closely integrate its production with downstream petrochemical units," he said.

The company is moving forward with the first phase of a long-planned project to expand crude oil processing capacity of its 13.7 million-tonne per year (TPY) Koyali refinery at Vadodara.

"It is already approved by the company s board in August, and the Rs 15,034-crore expansion will increase the refinery's total processing capacity by 4.3 million TPY to 18 million TPY by year-end 2022," he said.

Further, the company has already deposited an amount of Rs 100 crore with the Gujarat government about 15 days ago for acquisition of 85 acres of land from the surrounding villages around its refinery, required for two of the new projects, he added.

Scheduled to be commissioned between September 2019 and April 2020, the two BS-IV and BS-VI projects are designed to bring the refinery's fuel production in line with the government s decision to leapfrog to BS 6 compliance by April, 2020.

The refinery is also the second-largest manufacturer of Linear Alkyl Benzene (LAB) in the country, exporting to over 20 countries. The unit has a production capacity of 120 TMPTA of LAB.

Considering the global and domestic supply and demand scenario, Indian Oil (IOC) board has approved the 35 per cent capacity revamp of LAB from existing 120 TMPTA to 162 TMPTA at an estimated project cost of Rs 288 crore.

IOC is also entering Butyl Acrylate petrochemical speciality product market which has significant growth potential in India.

The IOC board has approved the oxo-alcohol project to produce Butyl Acrylate as a final product which has a lucrative internal rate of return (IRR) of 17.9 per cent at an approved cost of Rs 4,157 crore.


Infosys stable and on verge of something momentous: Nilekani
Prof Debashis Chatterjee assumes charge as Director of IIM-K
Air India set to have 'Maharaja' class seats on international flights
Taj group acquires Lutyen's Delhi hotel in NDMC auction
Air India set to have 'Maharaja' class seats on international flights
Google announces training programme for journalists
Sensex tanks 261 pts as US-China trade spat escalates
FCA India launches Jeep Compass variant at Rs 17.53 lakh
RBI releases June '18 issue of monthly bulletin
Walmart expects to close Flipkart deal by the end of 2018
Passenger vehicle sales rise 20% in May
Cabinet approves bailout package for sugar industry
India to enter top 10 OTT video markets in 4 years: PwC
Kochhar on annual leave, not forced one: ICICI Bank
In AirAsia Case, CBI To Probe Role Of 2 Former Ministers
London police seize bitcoin worth $667,000 from hacker
PNB fraud: ED files charge sheet against Nirav Modi, associates
Natco Pharma PAT for Q ending March 31 up by nearly 70 pc
SBI Q4 loss at Rs 7,718 crore as NPA provisions jump
PNB fraud: ED attaches Nirav Modi’s properties worth Rs 171 cr
KERALA NEWS
Kerala among 13 states on thunderstorm alert
 (New Delhi, May 7, 2018): Thunderstorms accompanied by squall, hail and heavy rains are likel  
Kerala Karshaka Jadha Opens to a Great Beginning / Video
Malappuram press club attack: RSS workers nabbed
Workers injured in mudslide at construction site
INTERNATIONAL NEWS
Saudi Arabia's ban on women driving ends officially
 (Riyadh, June 24, 2018):Saudi women are now officially allowed to get behind the wheel after
White House spokesperson Sanders says she was kicked out of restaurant
Germany: Huge explosion rips through apartment building, leaves 25 injured
Boko Haram raid kills five in Nigeria: residents
NATIONAL NEWS
Dantewada: Goods train derailed, Naxal hands suspected
 (Dantewada, June 24, 2018):Eight coaches and engine of a goods train travelling through Dante
GST rides on federalism: Narendra Modi
15 Killed, 10 Injured as Tractor-trolley Falls Into Canal in Telangana
AP will be torn apart if 'monkey gangs' come to power: CM
Untitled Page
Rashtra Deepika LTD
Copyright @ 2017 , Rashtra Deepika Ltd.