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Mumbai: The Essar Group
will set up a new refinery and raise capacity at its existing plant to raise its
total refining capacity to 680,000 barrels per day by June 2010. Essar
plans to build a 360,000 bpd refinery next to its existing plant at Vadinar in
Gujarat by December 2009, at a cost of $1.2 billion, group adviser A N Sinha said. The
Ruia-controlled Essar is the second largest private refiner in the country after
Reliance Industries, which operates a 660,000 bpd refinery at Jamnagar, in Gujarat. Reliance
is also building a 580,000 bpd refinery at the site. Sinha
said by third week of November all new units will be synchronised with existing
units to attain full capacity and Essar Oil will start operating at a full capacity
of 210,000 bpd from the third week of December. Sinha
said over 70 per cent of Essar''s production is exported.
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