Essar to begin Gujarat refinery ops soon
Essar Oil Ltd on Thursday said it will start its 10.5 million tonnes per annum refinery in Gujarat within a fortnight.
By PTI |
NEW DELHI: Essar Oil Ltd on Thursday said it will start its 10.5 million tonnes per annum refinery in Gujarat within a fortnight.
"We are in the final stages of getting the refinery ready to cut crude. It should be ready in the next seven to 15 days," Essar Oil Marketing Head S Thangapandian said here.
He said the refinery would initially start with a capacity of 7.5 million tonnes per annum, which would be ramped up to 10.5 MTPA by April 2007.
When operational, this would only be the second refinery by a private sector oil company after Reliance Industries Ltd's 33 million tonnes Jamnagar refinery in Gujarat.
Thangapandian said almost a third of the quantity produced would be exported.
"Majority would be on spot basis. However, there are some long-term contracts also," he said.
On sales from Essar's fuel outlets, he said the company is losing Rs 2-4 per litre on diesel sales but making Rs 2-4 per litre on sale of petrol.
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