Reliance Industries is planning to spend $16 billion for expanding petrochemical production capacity and lower feed and fuel costs to boost profits. The company will invest the same in an integrated gasification combined cycle (IGCC) project that will convert captive petrocoke to synthetic gas (syngas) which can be used to generate power, steam and hydrogen, which currently are being produced using expensive imported LNG. Refinery off-gas from this unit will be used to extract petrochemical compounds like ethane, ethylene, propylene, butanes and propanes at a $4.5 billion Refinery off-gas cracker (ROGC).
Another $5 billion is being spent on expanding polyester production capacity. Further, the firm will spend $1.5 billion to import ethane from US to replace higher cost propane imports and naphtha. The projects will be completed by FY18.
Reliance Industries, is a Fortune Global 500 company and is the largest private sector company in India. Its activities span exploration and production of oil and gas, petroleum refining and marketing, petrochemicals (polyester, fibre intermediates, plastics and chemicals), textiles, retail, infotel and special economic zones.
| Company Name | CMP |
|---|---|
| Reliance Industries | 1388.15 |
| Indian Oil Corp. | 140.35 |
| BPCL | 294.55 |
| HPCL | 377.65 |
| MRPL | 160.50 |
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