New Delhi: Department of Public Enterprises (DPE) Secretary Sailesh visited state-run Numaligarh Refinery Limited (NRL) to review the status of capital expenditure (capex) and stressed upon the need to speed up the same in line with the Centre's plan to increase capex spending by PSUs to revive economic growth. NRL has plans to spend Rs 949 crore in the current financial year and has embarked on major projects like refinery expansion and laying down of crude oil pipeline.
"The company has embarked on major projects viz. Refinery Expansion Project from current 3 MMTPA to 9 MMTPA which includes laying of 2,200 KM of Crude Oil Pipeline from Paradip port, Odisha to Numaligarh in Assam and Product Pipeline from Numaligarh to Siliguri in West Bengal and associated facilities like Crude Oil Import Terminal at Paradip port. NRL is also laying the 130 KM transnational Indo-Bangla Friendship Pipeline (IBFPL) from its Marketing Terminal at Siliguri to Parbatipur in Bangladesh," NRL said.
The company further said it holds equity stake in two important ongoing Joint Venture projects including M/s Assam Bio Refinery Pvt Ltd (ABRPL), which is implementing the first bamboo-mass Bio Refinery in the country, and M/s Indradhanush Gas Grid Limited (IGGL), which is implementing North East Gas Grid connecting all the eight capitals of Northeast states with National Gas Grid. The pipeline will also cater to the industrial customers in the Northeast states including NRL.
The two projects are being implemented under the umbrella of "Hydrocarbon Vision 2030 for North-East" and "Act East Policy." The bio-refinery will produce 2G ethanol from bamboo feedstock, and it will be used for blending with motor spirit.
All major PSUs have been asked by the government to step on their capex spending in order to create employment and provide a stimulus to investments. Oil & Gas PSUs have kick-started economic activities/projects, numbering 8,363 with an anticipated cost of Rs 5.88 lakh crore since April 20. Minister of Petroleum and Natural Gas Dharmendra Pradhan and Finance Minister has been holding in-depth reviews of all on-going projects of oil and gas companies to keep track of capex.
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