Mangalore: MRPL Bio-diesel Plant to be Commissioned by Year End
 
DH News Service, Mangalore 
Pics: Dayananda Kukkaje
 
Mangalore, Aug 3: The bio-diesel plant at Mangalore Refineries and Petrochemicals Limited (MRPL) would be ready within the next 6 to 8 months, said MRPL Managing Director R Rajamani.

Speaking to media persons soon after the 20th annual general body meeting at MRPL near here on Saturday, he said that the experiments of producing bio-diesel, an additive for the diesel, using coconut oil, vegetable oil and fish oil has been successful and plans are on the anvil to use rubber seed oil.

“The pilot project, expected to complete in the next 6 to 8 months, will produce about 300 to 500 litres/day in single shift,” he said and added that the capacity may be doubled if it is done in double shift.

RO by end of year

Stating that the retail outlet in Mangalore and Hubli would be commissioned by the end of this year, MRPL Chairman R S Sharma said that the company has introduced premium grades at its retail outlets to contain the under-recoveries. “Due to steep hike in the crude oil prices without corresponding price hike in retail selling prices, and the Government of India’s refusal to extend oil bonds and crude oil discount in line with other PSU OMCs (IOCL/BPC/HPCL), the company had to virtually discontinue the direct marketing of diesel to reduce the under-recoveries.”

Though the company was targetting to set up at least 15 retail outlets in 2008-09, the implementation plans had to be halted due to mouting losses to all the operators in the business, as also specific directives to that effect from the Administrative ministry, except for two outlets (Mangalore and Hubli) whre the construction work is nearly complete, he said.

Aromatic complex

The environment clearance for Aromatic Complex proposed to be set up in SEZ by ONGC Mangalore Petrochemicals Limited (SPV of ONGC-MRPL) has already been received, Mr Sharma said and added that the licensor’s selection for the Aromatics Complex has been completed and basic engineering and design work has already commenced.

12 pc dividend

The shareholders of MRPL in its 20th AGM on Saturday approved the accounts for the year ended March 31, 2008, with a dividend of 12 per cent vis-a-vis last year’s 8 per cent, Mr Sharma said and added that the 12 per cent dividend will absorb Rs 246 crore including Rs 36 crore as tax.

During the financial year 2007-08, the refinery processed a record throughput of 12.55 million metric tonne (MMT) crude oil achieving 130 per cent capacity utilisation. It despatched 11.83 MMT of finished products.

The turnover reached a record high at Rs 37,339 crore, with export earnings at Rs 11,141 crore during the year.