Essar Oil will begin to commission its 10.5
million tpa greenfield petroleum refinery at Vadinar in Gujarat, by the first
week of October 2006. The company has so far invested Rs.16,000
crore since the time it was first proposed in July 1995.
Speaking to ProjectsToday, an Essar
Oil spokesperson said that Phase I of 6 million tpa will turn commercial in the
first week of October 2006, while the full capacity of 10.5 million tpa will
turn operational only by March 2007.
In another development, Essar Oil has
received the formal nod for developing a 1,000 ha special economic zone at
Jamnagar for which it would invest Rs.15,000 crore. The project would include a
greenfield petroleum refinery of capacity 16-20 million tpa, downstream
petrochemical units and two single point moorings.
The company has even begun groundwork
for construction of the new refinery, according to reports. The Board of
Approvals on SEZs approved Essar's proposed SEZ on 8 August 2006.
The Essar group has targeted its
petroleum refining capacity of 32 million tpa by 2010.
Also See:
Essar
to commission refinery by July (23-Mar-06)
BoA
approves 45 SEZ proposals (09-Aug-06)
Essar
Group plans Rs.15,000 crore SEZ (16-May-06)
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