Reliance Petroleum has announced that the company has successfully completed the first year of implementation of its refinery complex, being built in a special economic zone at Jamnagar. The refinery project was kicked off in December 2005.

The refinery project has made rapid strides on all, including physical progress at the site and has achieved several key milestones during the first year itself. Significant accomplishments since the project kick-off include the following:

• All statutory approvals, including SEZ approvals, have been obtained.
• The equity financing of the project is completed through a highly successful IPO that established several new records in the Indian capital markets.
• Through successful global syndication, the company obtained commitments for $2 billion of debt, which is the largest foreign currency financing for any single project from India.
• The company concluded a strategic partnership with Chevron.
• Basic engineering and a major part of detailed engineering is complete.
• All long lead and critical equipments have been ordered and remaining procurement / contracting activities are nearing completion.
• Construction work at site has taken-off and is progressing at a rapid pace.

The project site with civil, structural and mechanical works is in full swing. The company has developed sufficient site infrastructure to sustain construction on fast track and is ready to receive peak implementation workforce required for the project. The project is scheduled for completion by December 2008.

Nearly two-thirds of detailed engineering work is complete and a substantial part of concrete, underground and structural steel drawings have been released to the site. A massive 3D site modelling effort is underway and is expected to provide benefits of superior engineering quality, reduced construction interferences and minimum rework at site. Over 7,500 engineers are working on the project at several interconnected locations across the globe.

On the procurement front, all long lead and critical equipments have been ordered and a substantial part of overall procurement and contracting activities has been completed. Equipment deliveries have commenced and more than 80 percent of structural steel and a significant part of piping materials have also been delivered to the site. Emphasis has now shifted towards vendor monitoring and follow-up or ensuring compliance with quality and delivery commitments.

The construction activities have gained further momentum with over 6,00,000 cubic meters of concreting already completed (equivalent to several scores of skyscrapers). The month of December 2006 witnessed the creation of a flew record with over 1,68,550 cubic metres of concrete poured in a single month. Through this, the company has even surpassed the record created during the implementation of the RIL's refinery at Jamnagar. Structural works have taken off with more than 30,000 tonne of steel and tankage fabrication work being completed.