Most of the Jamnagari people are aware about the Expansion of Reliance Refinery, with its completion Jamnagar will become global Hub for Refinery. This expansion is likely to be complete by December 2008.
Reliance Petroleum Ltd (RPL) — a 100 per cent subsidiary of Petro Giant Reliance Industries Ltd. (RIL) updated that the new polypropylene plant (PP) and refinery will reside in SEZ (Special Economic Zone), just near to existing refinery of RPL.
Even after tapping the capital market, RIL is planning to hold at least 80% stake in RPL. IPO pre-requisite documents are already submitted to SEBI.
The heat is allover this region for this expansion, because this expansion will make this complex world's largest single location refinery arena. This is the first project that made India self-sufficient in petro-products, target markets for this products also includes Europe, U.S. and Far East. The current project has combine refinery complex, a petrochemical facility, power utilities (CPP) and port facilities (not to mention it is the world's second largest oil port).
PP Plant will have 0.9 MMT/Annum Capacity, and 5.8 MMT/Day Crude Distillation capacity will be added to this complex once the new expansion will start functioning.
Cost of Expansion : Rs. 27,000 crore (about $6 billion).
Debt component : Rs. 15,750 crore (about $3.5 billion)
Equity : Rs. 11,250 crore (about $2.5 billion)