The present authorised capital of the company is Rs 1,000 crore and paid up capital is Rs 735.63 crore.
As part of the Rs 22,594 crore mega expansion project, North East India's largest refiner, Numaligarh Refinery Ltd (NRL), will ramp up its headcount by over 62 percent in the next four years, its Managing Director S K Barua said.
In an interview to PTI, Barua said apart from direct employment to 550 people, over 12,000 indirect jobs will be created during the construction of the new units.
"We will require about 550 more people to fully operationalise the refinery post commissioning," he said.
At present, the total headcount at the NRL stands at 874, including management and non-management staff.
Barua said of the 550 people required, 150 are immediately needed during the execution stage.
"Already 68 freshers have been hired from different engineering institutes. They will be put on the company payroll after completion of their probation period," he said.
"Other than the permanent staff, opportunities for indirect employment are huge. At the construction stage itself, about 12,000 contract workers will be hired," he said.
The contract employees will be hired as contractors, sub-contractors, vendors, suppliers, transporters, hoteliers and vehicle hiring agencies, Barua said.
The NRL is tripling its capacity from existing 3 MMTPA to 9 MMTPA at an investment of Rs 22,594 crore, which includes a 1,398 km-long crude oil pipeline of 9 MMTPA from Odisha's Paradip to Assam's Numaligarh and a 654 km-long product pipeline of 6 MMTPA from Numaligarh to West Bengal's Siliguri.
Speaking on the progress of the project, Barua said, "Pre-project activities are in full swing. The construction work is expected to begin from November this year considering receipt of all statutory clearances, including those related to environment, by then."
He said an oil refinery expansion work of this magnitude usually takes around 48 months to get completed.
Meanwhile, the company has announced plans to diversify its portfolio by entering exploration for crude oil within the next few months.
The Mini Ratna PSU has already received board approval for an initial investment of Rs 150 crore for diversification into exploration and has applied for necessary approvals for two blocks in Assam along with other partners.
The company was set up in accordance with the provisions made in the historic Assam Accord.
Bharat Petroleum Corporation Ltd (BPCL) has a 61.65 percent stake in NRL while Oil India Ltd (OIL) and Assam government have 26 percent and 12.35 percent holdings respectively.The present authorised capital of the company is Rs 1,000 crore and paid up capital is Rs 735.63 crore.Get access to India's fastest growing financial subscriptions service Moneycontrol Pro for as little as Rs 599 for first year. Use the code "GETPRO". Moneycontrol Pro offers you all the information you need for wealth creation including actionable investment ideas, independent research and insights & analysis For more information, check out the Moneycontrol website or mobile app.