Bharat Petroleum Corporation, is
planning to spend Rs.390 crore to upgrade its refinery at Mumbai to produce
Euro-IV standard petrol and diesel.
The formalities regarding the
upgradation of the 12 million tpa refinery are on and production of Euro–IV
petrol and diesel from the Mumbai refinery is expected to begin by January 2010.
The upgraded refinery will cater to Mumbai’s demand for high quality
transportation fuels.
The upgradation project will be funded
through a debt and equity ratio of 2:1. The company plans to spend Rs.59 crore
for upgradation in 2006-07. About Rs.98 crore will be spent in 2007-08, Rs.176
crore in 2008-09 and Rs.59 crore in 2009-10.
The state-owned company is spending
another Rs.2,000 crore on implementing a delayed coker unit at the 7.5 million
tpa Kochi refinery.
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