India’s MRPL expects to complete PP plant by April 2012

27 October 2010 07:23  [Source: ICIS news]

MUMBAI (ICIS)--India’s Mangalore Refinery and Petrochemical Ltd (MRPL) expects to complete its 440,000 tonne/year polypropylene unit in Karnataka state by April 2012, the company said late on Tuesday.

The plant is part of MRPL’s ongoing Phase III refinery expansion project, which envisages the production of 300,000 tonnes/year of petrochemical-grade propylene and 250,000 tonnes/year of lube oil base stock, apart from the enhanced production of other refinery products such as petrol.

The expansion project was ahead of schedule and had achieved a physical progress of almost 63% on 15 October, against the scheduled plan progress of 57%, MRPL said in a statement on its website.

Mechanical completion of the project was targeted for October 2011.

The company also plans to set up a Single Point Mooring at Mangalore port by May 2012 to receive oil in very large crude carriers, it added in its statement.

Meanwhile, MRPL posted a 57% rise in its second quarter (July-Sept) net profit to Rs2.8bn ($63.1m) on increased refining margins, while its net sales were up at Rs83.54bn against Rs78.74bn, year on year.

($1 = Rs44.40)

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By: Priya Jestin

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