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MRPL Project - Phase III to go onstream by Oct 2011

12
Dec '08
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


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