Reliance Petroleum Limited (RPL) on Tuesday said it would commission its refinery ahead of schedule. The company said nearly 94 per cent of the project has been completed.
RPL had raised Rs 8,100 crore from the primary market to part-finance the refinery with an annual capacity of 27 mmtpa (million metric tonnes per annum). The most of the remaining fund was borrowed while Chevron chipped in fund against its acquisition of a 5 per cent stake in the company.
Till June 30, the company has invested Rs 25,515 crore in the refinery. This is higher than the projected investment of Rs 24,125 crore as the company made an advance payment to the contractors in order to ensure speedy implementation of the project, the company informed the stock exchanges.
No comments:
Post a Comment