Home / Knowledge / News / Textiles / MRPL Project - Phase III to go onstream by Oct 2011
MRPL Project - Phase III to go onstream by Oct 2011
12
Dec '08
Shri U K Basu, Managing Director MRPL
Shri U K Basu, Managing Director MRPL
Mangalore Refinery & Petrochemicals Limited, MRPL (a subsidiary of ONGC and a mini ratna category I company) is augmenting its Refining capacity from 9.6 mmtpa to 15 mmtpa with cutting edge technologies incorporated in the process to get the maximum value from the hydrocarbon molecule.

Preparatory work has been on for sometime now and the mandatory approvals have since been secured, process licensors appointed, and work awarded for execution of PFCCU & SRU. M/s Engineers India Ltd is the Project Management Consultant.

Explains Shri U K Basu, Managing Director MRPL , “While Phase III was to have achieved mechanical completion by June 2010 and the original estimate was Rs 7943 crore, we have been beleaguered by an overheated market hampering appointment of process licensors , delay in land acquisition, and the steep increase in steel & cement prices in the last 12 to 18 months. “ He put the new completion date at October 2011 and the Project estimate stands revised to Rs12412 crore as approved by MRPL Board as well as by ONGC Board under Navratna empowerment.

Despite 50% cost Overrun, and a 15 month time overrun, MRPL has benefited from the delay because as the country was exposed to unprecedented volatility in crude prices and the consequent market dynamics, MRPL quickly seized the situation and re-engineered the process design to make the new Unit capable of handling high tan and acidic crudes more than envisaged before, added some more secondary processing units to upgrade residues and the entire HSD (diesel) quality.

“We have ensured that the best of technology is being brought in.” adds Shri U K Basu, “and we are fully equipped to handle the crude price movements and take advantage of the differential pricing in high tan, acidic crudes that most refineries in India cannot process.”

“India's energy security is a matter of prime concern to MRPL and our parent company ONGC” Mr Basu adds firmly.

The mega Project will be funded through a 2: 1 debt equity ratio. The equity portion will be financed using the MRPL internal accruals and the debt would be raised from the market. It is estimated that about 88% of the plant and machinery cost will be sourced indigenously and the balance 12% needs will be imported.

“As this mega Project rolls out we are acutely aware of the challenges ahead – around 350 acres of uneven terrain, full of hills and valleys, will have to be graded, the Mangalore monsoons bring heavy downpour that will further hamper the grading and construction work; while resitement and rehabilitation of project affected people is on at full swing, it is not completely done… and resitement is a sensitive issue that cannot be rushed through..” states Shri Basu.

“Heavy machineries have to be moved in and positioned. Around 10,000 to 12,000 manpower comprising skilled and unskilled are required for the construction work of this Project” points out MRPL's MD.

MRPL's HR is gearing up to recruit for Managerial positions as per PSU procedures.

MRPL's Mega Project is certain to bring in more wealth to Karnataka and India.

Mangalore Refinery and Petrochemicals Limited


Must ReadView All

Armtex Group gets incentives for textile unit in Armenia

Textiles | On 18th Mar 2019

Armtex Group gets incentives for textile unit in Armenia

Armenia recently granted textile manufacturer Armtex Group customs...

Pic: Gildan Activewear

Fashion | On 18th Mar 2019

Merger of athletic, leisure created new brands: Gildan

Merging of athletic and leisure categories in developed nations has...

Pic: Asteks

Textiles | On 18th Mar 2019

Asteks' AGV reduces workload in material transportation

AGV automatic guided vehicles developed by garment manufacturer...

Interviews View All

Top executives, Textile industry

Top executives
Textile industry

The budget will give major impetus to textile and apparel consumption

Shawn Honeycutt, Bolger & O'Hearn

Shawn Honeycutt
Bolger & O'Hearn

‘The Indian market is interesting and rather persistent in seeking new...

Nitin Bhatia, Trend Arrest

Nitin Bhatia
Trend Arrest

Setting up a brand for online selling is easy, but running the brand is not

Siddhachakra Weaving (Badiya Fashion),

Siddhachakra Weaving (Badiya Fashion)

Ahmedabad-based Siddhachakra Weaving Pvt Ltd was established in 2011 under ...

Himanshu Jariwala,

Himanshu Jariwala

J Korin started as a partnership firm with four powerlooms in the textiles ...

Fan Liyuan,

Fan Liyuan

Chinese company Jiangsu Yingyang Nonwoven Machinery, established in 1993,...

Robert Erichsen, Statex Produktions & Vertriebs GmbH

Robert Erichsen
Statex Produktions & Vertriebs GmbH

Statex Produktions & Vertriebs Gmbh, founded in 1978 and headquartered ...

Daniel Kaye, RocketLife

Daniel Kaye
RocketLife

<div>RocketLife, an award-winning developer of breakthrough visual...

Razvan Popescu, Directa Plus SpA

Razvan Popescu
Directa Plus SpA

Directa Plus is one of the largest producers and suppliers worldwide of...

Mike Hoffman, Gildan Activewear SRL

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Varsha Wadhwa, VW

Varsha Wadhwa
VW

Coming from a family that ran a business of jute and linen mills since...

Robert Brunner, Devereux

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


March 2019

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search