Do More With Reuters
Partner Services

India Reliance Pet says refinery 97 pct complete

Tue Oct 21, 2008 5:53pm IST
 
Email | Print | | Single Page
[-] Text [+]

NEW DELHI, Oct 21 (Reuters) - India's Reliance Petroleum Ltd (RPET.BO: Quote, Profile, Research) said on Tuesday its 580,000 barrel-per-day (bpd) refinery in Western state of Gujarat was 97 percent complete.

"Construction is nearing completion and the focus has now shifted from mechanical completion to start up," the firm, a subsidiary of Reliance Industries (RELI.BO: Quote, Profile, Research), said in a statement.

It said facilities such as tankfarms, blending systems and other storage systems had been commissioned and some process units were currently under pre-commissioning trials.

The statement did not say when the refinery would be commissioned.

Oil secretary R. S. Pandey said earlier this month that the refinery would be commissioned by the end of November.

Reliance Industries, India's most-valuable listed firm, runs a 660,000 bpd refinery next to the new project in Jamnagar.

Shares in Reliance Petroleum, in which Chevron Corp (CVX.N: Quote, Profile, Research) owns a 5 percent stake, gained 5.9 percent to 106.4 rupees in a Mumbai market .BSESN that rose 4.5 percent. ($1=49 rupees) (Reporting by Nidhi Verma; Editing by John Mair)

Russian Finance Minister Alexey Kudrin poses with his G20 colleagues and central bank leaders during the family photo at the G20 Finance Ministers meeting at a hotel in St. Andrews, Scotland. REUTERS/POOL New
Pledge to support economies

G20 financial leaders pledged to prepare strategies to end emergency support for their economies, but to keep the aid flowing until recovery was assured.  Full Article | Related Story 

special coverage

Photo
Central Banks Cautious

Reuters tracks the policies of the world's top central banks as the debate over global economic recovery rages on.  Full Coverage 

Market Update

  • IndiaIndia
  • USUS
  • UKUK
  • Asia
  • Most Actives

SHOWCASE

Sanjay Sinha
Balancing Act

In India, it is a tough choice between growth, managing inflation and financial stability.  Full Article 

 
Nipun Mehta
Road to Recovery

There needs to be an acceptable balance created between education and healthcare and infrastructure spend, says Nipun Mehta of SG Private Banking.   Full Article 

 
Robot Asimo

Snapshots of Honda Motor's humanoid robot Asimo  Slideshow 

 
Marketing Strategy
Marketing Strategy

Companies are now using direct marketing methods to sell their products.  Full Article 

 
Exit Plans
Exit Plans

Factbox - Stimulus exit plans for Asia-Pacific's big 5 economies  Full Article