RIL gains 1%; commissions refinery off-gas cracker at Jamnagar

RIL gains 1%; commissions refinery off-gas cracker at Jamnagar

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Reliance industries ltd

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.

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Yash Ved
Yash Ved is a Senior Correspondent at NewsBarons and comes with a decade of experience across leading online and offline publications. A keen observer of the stock index movement, Yash also likes covering Real Estate and the BFSI sector. A financial management and Journalism student, Yash believes learning as a continuous journey and enjoys following the IT and the Pharmaceutical industry and has penned many articles on the subjects.
yash@newsbarons.com