The Hindu : Business : MRPL lines up major expansion schemes

Online edition of India's National Newspaper
Tuesday, Nov 06, 2007
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Business

MRPL lines up major expansion schemes

Special Correspondent

Will set up an olefin complex and petrochemicals hub

To open retail outlets in South India
Proposes to enter ATF business

NEW DELHI: Buoyed by the excellent second quarter results, Mangalore Refinery and Petrochemicals Limited (MRPL) has drawn up major expansion plans that entails expanding the present capacity from 9.2 million tonnes to 15 million tonnes by 2010 and setting up of an olefin complex along with a major petrochemicals hub with an investment of nearly Rs. 21,000 crore during the XI Plan.

Disclosing this here on Monday, MRPL Managing Director, R. Rajamani, said apart from expansion of refinery, plans had been drawn up to open retail outlets (ROs) in South India. The company, he said, was looking for a strategic partner for acquiring 51 per cent stake in the ONGC Mangalore Petrochemicals Limited.

In addition, MRPL is expected to finalise during the next six months decision on the detailed feasibility report for an olefin plant to be established with an investment of Rs. 17,000 crore. The joint venture has been floated by ONGC and MRPL to set up an aromatic plant in Mangalore Special Economic Zone. Companies from Japan and South Korea have shown keen interest to acquire stake in the project. The project will entail an investment of Rs. 4,850 crore and manufacture 9.2 lakh tonnes annually of paraxylene. MRPL was exploring the option of entering aviation turbine fuel business Mr. Rajamani added.

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