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Reliance Petro spends $4.6 bn on refinery

Reliance Petro spends $4.6 bn on refinery
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First Published: Wed, Apr 25 2007. 07 06 PM IST
Updated: Wed, Apr 25 2007. 07 06 PM IST
Reuters
Mumbai: India’s Reliance Petroleum Ltd, which is building a $6 billion (Rs24,330 crore) refinery has spend Rs18940 crore ($4.6 billion) on the project, the company said on 25 April.
Work on the 580,000 barrel per day (bpd) refinery at Jamnagar in western India is nearly 50% complete and is expected to be commissioned by December 2008, the subsidiary of Reliance Industries Ltd said.
Reliance Petroleum, in which oil major Chevron Corp.owns a 5% stake, said the spending is more than an earlier projected Rs11590 crore by March because of advance payments to contractors.
The refinery is being built near a 660,000 bpd refinery of Reliance Industries.
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First Published: Wed, Apr 25 2007. 07 06 PM IST
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