MRPL 3rd phase to be delayed by 15 months

The phase III expansion project of Mangalore Refinery and Petrochemicals Ltd (MRPL) will now cost Rs 4,469 crore more and will be delayed by 15 months.
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Dec 12, 2008, 09.25 AM | Source: Business Line

MRPL 3rd phase to be delayed by 15 months

The phase III expansion project of Mangalore Refinery and Petrochemicals Ltd (MRPL) will now cost Rs 4,469 crore more and will be delayed by 15 months.

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MRPL 3rd phase to be delayed by 15 months

The phase III expansion project of Mangalore Refinery and Petrochemicals Ltd (MRPL) will now cost Rs 4,469 crore more and will be delayed by 15 months.

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Mangalore, Dec. 11

The phase III expansion project of Mangalore Refinery and Petrochemicals Ltd (MRPL) will now cost Rs 4,469 crore more and will be delayed by 15 months.

Though the company attributes this delay to the market conditions, it also feels that the delay has helped it to re-engineer the process design.

On Thursday, the company announced the new date for completion of the project at October 2011 as against the previous plan of June 2010 and a revised project cost of Rs 12,412 crore against the earlier estimate of Rs 7,943 crore.

Quoting Mr U.K. Basu, Managing Director of MRPL, a company statement said: “While Phase III was to have achieved mechanical completion by June 2010 and the original estimate was Rs 7,943 crore, we have been beleaguered by an overheated market hampering appointment of process licensors, delay in land acquisition, and the steep increase in steel and cement prices in the last 12 to 18 months.”

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