New Delhi: Nayara Energy is planning to spend Rs 1.3 lakh crores on expanding the capacity of its Vadinar refinery. The current capacity of the refinery is 20 Million Tonne Per Annum (MTPA) and Nayara is planning to expand it by an additional 26 MTPA by adding a 10.75 MMTPA petrochemical complex.
In an application to the Environment Ministry, Nayara Energy said, "The expansion projects will be progressively completed by 2022 to 2024. The total cost of the expansion project is estimated to be $20 billion. The ultimate configuration of the proposed petroleum refinery would be 46 MMTPA along with 10.75 MMTPA petrochemical complex."
The petrochemical complex will produce polyethylene, purified terephthalic acid, polypropylene and Paraxylene. The existing 20 MMTPA facility is a refinery and it imports heavy crude including Ratawi crude (31.5 percent), Maya crude (27 percent), Arab Light (13.5 percent), Mangala crude (10 percent), Arab Heavy (9 percent) and Doba crude (9 percent).
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The new facility will process similar grade crudes, with the addition of two new grades — Cabinda crude (17.4 percent) and Escalante crude (5.7 percent).
According to an estimate provided by the company, it will employe around 12,000 people during the construction phase and about 2,000 people during the operation phase.
Nayara said that it had planned in 2005-06 to expand its refinery to 60 MMTPA, along with a petrochemical unit for which clearance was obtained from the Ministry of Environment. However, because of business exigency, the plan was not implemented.
"The company has now revisited and revised its expansion plan for the optimum total refining capacity of 46 MMTPA along with petrochemical complex, by addition of another 26 MMTPA crude processing thereby reducing by 14 MMTPA from the earlier plan of 60 MMTPA," Nayara Energy said.