Energy

Reliance Industries plans $10 billion refining plant in Jamnagar, says report

Updated : November 20, 2018 11:43 AM IST

The new proposed plant will be located at the company’s Jamnagar facility, the world’s biggest refining complex: report

The Jamnagar plant may cost up to $10 billion and preliminary discussion with global refinery process licensors and equipment vendors have started, the report added.

Oil-to-telecom conglomerate Reliance Industries is looking to open a new plant to boost its current refining capacity by about half, the Business Standard reported.

The new proposed plant will be located at the company’s Jamnagar facility, the world’s biggest refining complex, and will be able to process as much as 30 million tonnes of crude oil per year, sources familiar with the development told the newspaper.

Reliance is looking to establish its dominance and compete with foreign oil companies like Saudi Aramco, Abu Dhabi National Oil Co., and Russia’s Rosneft PJSC, who are acquiring refining plants in India, the report said.

The Jamnagar plant may cost up to $10 billion and preliminary discussion with global refinery process licensors and equipment vendors have started, the report added.

Disclaimer: Network18, the parent company of CNBCTV18.com, is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.

Have you signed up for Primo, our daily newsletter? It has all the stories and data on the market, business, economy and tech that you need to know.

Reliance Industries plans $10 billion refining plant in Jamnagar, says report

You May Also Like

COVID-19: NEET postponed to Sept 13, JEE-Mains to be held from Sept 1, says HRD Ministry

Retail next growth area for RIL; raising target price to Rs 1,900 by Mar, says SP Tulsian

Britannia Q4 meets analyst estimates; stocking by households to boost Q1, says co

Trending on CNBC-TV18

recommended for you