Reliance Industries Ltd stock was higher by 1% at Rs. 989 after the company said it has commissioned and achieved design throughput of the world’s first ever and largest Refinery Off-Gas Cracker (ROGC) complex of 1.5 MMTPA capacity along with downstream plants and utilities.
The ROGC complex is a core component of RIL’s most innovative and world-scale J3 project at its integrated Refinery-Petrochemicals complex at Jamnagar.
The stock has hit a high of Rs. 927 and a low of Rs. 919.
With the commissioning of ROGC complex, the largest ever expansion of RIL’s petrochemicals portfolio comes to a flawless completion. This is one of the largest capital expenditure programme globally in the sector in recent times.
The ROGC complex has a configuration as it uses off-gases from RIL’s two refineries at Jamnagar as feedstock. This approach of integration with refineries provides a sustainable cost advantage, making ROGC competitive with respect to the crackers in Middle-East and North America which have feedstock cost advantage.