08.29.06
Rs 15,000-crore refinery in Jamnagar SEZ : Essar
Rs 15,000-crore refinery in Jamnagar SEZ : Essar
As the SEZ fever is going on in the country. Essar group has decided to set up a Rs 15,000-crore, 16-20 million tonne green-field refinery in its upcoming SEZ near Jamnagar. Jamnagar already boasts of the world’s largest grassroots refinery built by Reliance Industries (RIL). RIL is also setting up a Rs 25,000-crore, 27-mt refinery in its SEZ in the district. Essar has set a target of touching a cumulative refining capacity of 32 mt by 2009-10. The capacity expansion will be carried out in a phased manner. While the refinery at Vadinar, in Jamna¬gar, is ready for commissioning, the new capacities will be a part of Essar’s 1,000-hectare SEZ in the same district.
Essar has already got formal approval for developing the 1,000-hectare SEZ, for which it would pump in an estimated Rs 15,000 crore - most of which would be invested in constructing the new refinery.
Essar Oil, the group company executing the refinery project, has already begun the groundwork for construction of the new refinery as well as other downslream petrochemicals units that would be set up in the SEZ. Executives of Essar Oil have begun parleys with the state ports regulatory authority, asking the latter lo suggest suitable locations for putting up single buoy moorings (SBMs) in Gujarat waters. The company has sought approval for two SBMs.
The company is preparing a detailed project report for the new refinery as well as the two SBMs, the source added.