Reliance Petro Jamnagar refinery to be complete ahead of schedule

[K.Karthik Raja]

Reliance Petro Jamnagar refinery to be complete ahead of schedule
Monday, Jun 9

MUMBAI - Reliance Petroleum Ltd's refinery at Jamnagar, in
Gujarat, is expected to be complete ahead of schedule, Chairman Mukesh
Ambani said at the company's third annual general meeting Saturday.
The refinery was scheduled to be completed in December.
Supply from the company's new refinery will represent almost 50%
of the estimated global oil demand growth in 2009 and it should
increase global production capacity of gasoline diesel 1%, Ambani
said.
The start-up planning for the refinery is close to completion
while
engineering works, procurement, and contracting activities have been
completed, the chairman said.
The refinery will start generating revenues from the current
financial
year ending March, he said.
Ambani said long-term outlook for refining margins for refineries
like
Reliance Petroleum remains positive due to robust demand, tight
product
supplies, and slow growth of new capacities.
At 10.26AM, Reliance Petroleum shares were trading at 162.15
rupees on
the national Stock Exchange, down 2.7% from Friday. End
.