15 January 2008 17:01 [Source: ICIS news]
NEW DELHI (ICIS news)--?xml:namespace>
The company had slated mechanical completion for August 2008, but in a presentation the company said it already had put in place “start-up planning” and efforts were ongoing for “operation preparedness”.
In a separate release, RPL said it had achieved 82% overall progress in project implementation in just 24 months. It was on course to complete the project ahead of its initial schedule of December 2008.
“We are will on the way to create history by successfully completing the refinery ahead of its initial schedule. RPL is poised to benefit opportunities in the sector and create superior value for its shareholders," said RPL chairman Mukesh Ambani.
The company said global refining fundamentals remained intact and promised exciting value creation opportunities for large and complex refiners.
The project is located in a special economic zone (SEZ) adjacent to the existing, export-oriented refinery-cum-petrochemical complex that is owned by RPL parent, Reliance Industries Limited (RIL).
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