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Reliance Industries to complete Jamnagar refinery expansion by 2009
New Delhi: Reliance Industries (RIL) is planning to invest about $ 5.7 billion to raise capacity of its Jamnagar refinery to 60 million tonnes by 2009.

Reliance will start work on a planned refinery expansion next year. At present the refinery is operating at 100 per cent capacity. Most of the expanded capacity would be for export markets in North and South America, the Gulf countries, Europe and some countries in Africa.

The company is also looking at exporting almost 35 per cent of its output this year. Earnings from processing each barrel of crude oil into fuel products are expected to be around $10.

RIL expects its oil product output to rise by about 10 per cent after a planned maintenance shutdown of two units. It is shutting down one crude distillation unit and a catalytic cracker unit at the Jamnagar refinery from October for about eight weeks.
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REC to raise Rs 9,000 crore
Mumbai: The Rural Electrification Corporation Ltd (REC) plans to mobilise Rs 9,000 crore this year through capital gain tax exemption bonds and syndicated loans to fund its ongoing and impending projects.

Credit rating agencies Fitch, Crisil and Care have assigned `AAA' rating to the bonds indicating highest safety to the borrowing programme.

According to the organisation, the power sector in India has got substantial potential and as per the estimates of the Tenth and Eleventh Plan, around Rs eight lakh crore are required. There is also a need to increase the capacity by another 1,00,000 MW by 2012 alongwith transmission and distribution network.

REC is also thinking of ways and means to fund power generation including hydel power generation and plans to try and ensure electricity network in power-starved states through Power Grid Corporation of India in which they would do the groundwork and we shall do the needful on revenue sharing basis.
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