RIL eyeing assets in EU: reports
15 Oct 2009
Reliance Industries Ltd, India's largest company by market capitalisation, plans to expand capacity of its Jamnagar facility by nearly a quarter to 720,0000 barrels a day (bdp)
The Jamnager facility already has the largest refining capacity in the world.
According to an Abu Dhabi-datelined Reuters report quoted Maurice Bannayan, senior vice-president RIL, at the new Jamnagar plant said it the plant was currently operating at 650,000 bpd or 12 per cent above the officially stated capacity.
He said that the company was planning a consolidation that would raise the capacity to 700,000 or 720,000 (bpd) in six - eight months.
With an older 660,000 bpd RIL refinery operating adjacent to the new facility, RIL could generate 1,380,000 bpd, leaving analysts guessing where RIL would find takers for all its high-quality fuels in an already over-supplied market.
Some analysts see it as a mere de-bottlenecking exercise, maintaining that it may not be a good time for expansion.
