Reportedly, due diligence on the planning of the refinery will be executed by 2011 and the project is likely to be finished by 2015.
Moreover, the company is currently on the verge of completing another 180,000bpd refinery. The unit is being built in Bhatina in Punjab. The construction is expected to be completed in May 2011, which is estimated to cost around $3bn.
In addition, the construction of company’s Vizag refinery is also in progress. After the completion of the three refineries, the company expects to add up to 700,000bpd of capacity to its portfolio.
The company is in discussions regarding the supplies of crude feedstock with several Middle Eastern countries, such as Saudi Arabia and Iraq.
