Numaligarh Refinery to invest Rs 14,000 CR in refinery expansion, pipeline construction

GUWAHATI: Assam based Numaligarh Refinery Limited ( NRL) will invest close to Rs 14,000 Crore in the refinery expansion and capacity augmentation project. The refinery plans to construct crude oil pipeline from Dhamra Port in Odisha to Golaghat in Assam besides augmenting its capacity from 3 MMTPA (million metric tonnes per annum (MMTPA) to 9 MMTPA.

The 20th Annual General Meeting of NRL was held in Guwahati on Friday which was presided over by R. K. Singh, Chairman and Managing Director Bharat Petroleum Corporation Limited ( BPCL) and Chairman, NRL and was attended by Dipak Chakravarty, Managing Director, NRL.

The company stated it is actively pursuing its refinery expansion plans. "Sourcing and transportation of imported crude oil through a pipeline from Dhamra Port in Odisha is being arduously pursued".

According to NRL the capacity expansion of the refinery is expected to address the challenges that NRL faces including the sub-economic size of the refinery and inadequate availability of crude oil in North East.

A dividend of 10% (Re.1.00 per equity share of Rs 10.00 each) for the year 2012-13 on the paid up share capital was declared. The company registered a sales turnover of Rs 8,753 crores and net profit of Rs 144 crores for the year 2012-13. In 2011-12, the sales turnover stood at 14, 067.86 and net profit stood at Rs 183.70 Crore.

The total dividend to be paid by NRL for the 2012-13 to its shareholders, namely M/s BPCL, M/s Oil India Limited (OIL) and Government of Assam would amount to Rs 73.56 crores. During the year, NRL contributed Rs748 crores to the Central exchequer while contribution to the State exchequers was to the tune of Rs 280 crores.