BORL SET TO ROLL DESPITE DELAYS COSTING OVER RS 2,000 CRORE
Article Abstract:
Bharat Oman Refinery Ltd (BORL) has decided to go ahead with its offshore facility off the Gujarat coast despite facing a cost overrun of more than Rs2000 crore. The cost overrun is due to a four-year delay in the clearance of the project. BORL has now secured the clearance for the project which will now cost more than Rs7,400 crore as compared to Rs5,400 crore projected originally. BORL is finalising the lumpsum turnkey contracts for the six million tonne refinery which will be built wholly on two major contracts. It has acquired the licensed technology for the project from Chevron, UOP and other international licensers. BORL proposes to mobilise $500 million through external commercial borrowings and is aiming at multilateral agencies, suppliers credit as well as the banks. (ag)
Comment:
Decides to go ahead with offshore facility off Gujarat coast despite facing cost overrun of more than Rs2000 crore
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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NUMALIGARH REFINERY GOES ON STREAM
Article Abstract:
The Numaligarh Refinery, a joint venture between Bharat Petroleum and IBP, has commenced operations and is scheduled to start cutting crude from March 10, 1999. The 3 million tonnes refinery has started negotiations for marketing tie-ups and the option of selling excess products to Bangladesh will be taken up with the ministry for external affairs. The refinery will be the fourth one in the north-east region, leading to excess capacity in diesel and kerosene. (khr)
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1999
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MINI-REFINERY PROJECT IN AP SHELVED
Article Abstract:
The Shiva group of companies of the US has dropped its plans to set up a mini refinery in the Krishna-Godavari basin in Andhra Pradesh. The project envisaged setting up a 1.5 million tonnes per annum (tpa) refinery at a cost of Rs450 crore at Kotipalli. The government of India has stipulated a minimum capacity of three million tpa and capital investment of Rs2000 crore for setting up a mini refinery. (rk)
Comment:
Drops plans to set up mini refinery in the Krishna-Godavari basin in Andhra Pradesh
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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