GUWAHATI: Buoyed by its impressive performance in the last financial year, Numaligarh Refinery Limited (NRL) has planned to invest more than Rs 35,000 crore in the next five years for executing four major ongoing projects. These include the ambitious 130-km-long India-Bangladesh Friendship Pipeline (IBFPL).
Born out of the Assam Accord of 1985, the company, which is currently owned by Oil India Limited, the Assam government and Engineers India Limits, is constructing the IBFPL and an one MMTPA capacity product pipeline from Siliguri in West Bengal to Parbatipur in Bangladesh.
At the company’s 29th annual general meeting here on Monday, chairman R Rath said addressing the shareholders, “NRL is determined in its pursuit of executing the major ongoing projects in hand, namely, the Numaligarh Refinery Expansion Project (NREP), the Paradip Numaligarh Crude Oil Pipeline (PNCPL) and Crude Oil Import Terminal at Paradip (COIT), 2G Ethanol Project and the IBFPL. In the next five years, your company has planned to invest more than Rs 35,000 crore in completing these projects which will enable long-term business growth, both in terms of revenue and profit. Hence, completing these projects without any time and cost overrun remains the core focus area of the company.”
In the 2021-22 fiscal, the company achieved the highest-ever sales turnover of Rs 23,546 crore, which was 26.95% more than the previous year’s Rs 18,548 crore, primarily on account of increase in product prices.
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