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Reliance Petroleum Limited (RPL) is a greenfield petroleum refinery and polypropylene plant in a Special Economic Zone in Jamnagar in the state of Gujarat in western India. RPL is setting up a 580,000 barrels of crude oil per stream (BPSD) Greenfield petroleum refinery and 0.9 million tons per annum polypropylene plant. RPL plant is being set up adjacent to the existing refinery and petrochemical complex of their promoters, Reliance Industries Limited (”RIL”), largest private sector company in India with assets of over Rs.1174 billion (approximately US$ 27 billion) as of March 31, 2007.
The refinery is able to process a wide variety of crudes- from very light to very heavy (from 18 to 45 degree API) and from sweet to very heavy (with sulphur content from 0 to 4.5 %). With an annual crude processing capacity of 580,000 barrels (92,000 mÂ³) per stream day (BPSD), RPL will be the sixth largest refinery in the world. It will have a complexity of 14.0, using the Nelson Complexity Index, ranking it amongst the highest in the sector. The polypropylene plant will have a capacity to produce 0.9 million metric tonnes per annum.
The refinery project is being implemented at a capital cost of Rs 27,000 crore being funded through a mix of equity and debt. This represents a capital cost of less than US $10,000 per barrel per day and compares very favourably with the average capital cost of new refineries announced in recent years. The International Energy Agency (IEA) estimates the average capital cost of new refinery in the OECD nations to be in the region of US $15,000 to 20,000 per barrel per day. The low capital cost of RPL becomes even more attractive when adjusted for high complexity of the refinery. RPL’s low capital cost is a result of the benefits of ‘intelligent repeat’ of design and engineering aspects of RIL’s existing refinery, proactive procurement strategy and faster implementation of the refinery project. This is expected to provide sustainable competitive advantage in the market place and enable RPL to deliver superior value in the coming years.
It has a strategic alliance with Chevron India Holdings Pte Limited. The company was incorporated in 2005 and is based in Mumbai, India.
RIL is the only private sector company from India to feature in the Fortune Global 500
World’s sixth largest refinary
Photo of the Reliance Petroleum at Jamnagar