Mukesh Ambani, chairman of Reliance Industries gave a Christmas gift – a brand new refinery built at great speed on December 25, 2008 at Jamnagar, Gujarat.
Combined with an existing refinery with 33 million ton capacity, the new refinery with 29 million capacity leads to a new record –combined capacity of 62 million ton in a single-location; it is a world record.
While the earlier refinery was built in stages over 10 years, the new refinery was built in single go over 4 year period.
Opening a large facility with billions of dollars of investment ion December 25, 2008 (with the backdrop of the worst ever downturn in human history) demonstrates an unparalleled courage.
With the global markets slowing down, US market shrinking and oil price plummeting to $ 40 from the earlier high of nearly $ 145, there is considerable uncertainty about the demand for the refinery’s product, as well as profitability. The sophisticated control technology employed by the refinery product as well as profitability; with the sophisticated control technology employed by the refinery, as well as innovative design that permits unparalleled flexibility, Reliance refinery may sail through market slump.
Tags: 2008, 62 million ton single location refinery, December 25, Jamnagar, Mukesh Anbani, new oil refinery with 29 million capacity, Reliance, world record
