25 April 2007 15:16 [Source: ICIS news]
NEW DELHI (ICIS news)--?xml:namespace>
This initiative would reduce duplication among the various project teams and increase efficiency at the site, the company added.
“RPL is well on its way towards setting a new benchmark in the global refining sector,” the company said.
The export-focused project is taking place in a special economic zone adjoining, parent company Reliance Industries Limited’s (RIL’s) existing refining-cum-petrochemical complex. RIL recently transformed its refinery into a fully export-oriented unit to take advantage of tax breaks and therefore improve profitability.
Reliance Petroleum said it had completed 80% of the detailed engineering work at the site. The installation of equipment was in full swing, while more than 7,500 engineers were working to complete the facility on time, it added.
Company chairman Mukesh Ambani said: “RPL is poised to benefit from emerging opportunities in the sector and create superior value for its shareholders.”
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