The Cabinet Committee on Economic Affairs on Wednesday Jan 16,2019 has approved the tripling
of Numaligarh Refinery’s capacity.
An official statement said the capacity will be hiked from 3 million tonnes per annum (mtpa) to 9 mtpa.
The Cabinet has also approved setting up of a crude oil pipeline from Paradip to Numaligarh and a product pipeline from Numaligarh to Siliguri.
The total project cost is pegged at ₹22,594 crore and it will be financed by a mix of debt, equity and a Viability Gap Fund (VGF).
Numaligarh Refinery Ltd (NRL) will raise a debt of ₹15,102 crore and apart from internal accruals of ₹2,307 crore, the promoters (Bharat Petroleum Corporation Ltd and Oil India Ltd) and the Assam government will contribute equity, the statement said.
The project will be supported by a VGF of ₹1,020 crore from the Centre. It is expected to be completed within 48 months, after approval and receipt of statutory clearances.
“The expansion of the refinery will meet the deficit of petroleum products in the North-East,” the statement added.
An official statement said the capacity will be hiked from 3 million tonnes per annum (mtpa) to 9 mtpa.
The Cabinet has also approved setting up of a crude oil pipeline from Paradip to Numaligarh and a product pipeline from Numaligarh to Siliguri.
The total project cost is pegged at ₹22,594 crore and it will be financed by a mix of debt, equity and a Viability Gap Fund (VGF).
Numaligarh Refinery Ltd (NRL) will raise a debt of ₹15,102 crore and apart from internal accruals of ₹2,307 crore, the promoters (Bharat Petroleum Corporation Ltd and Oil India Ltd) and the Assam government will contribute equity, the statement said.
The project will be supported by a VGF of ₹1,020 crore from the Centre. It is expected to be completed within 48 months, after approval and receipt of statutory clearances.
“The expansion of the refinery will meet the deficit of petroleum products in the North-East,” the statement added.
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