RIL, EIL jointly bids for upgrading Libyan refinery
12 October 2006
Mumbai: Reliance Industries Ltd (RIL) and state-owned Engineers India Ltd (EIL) have submitted a joint bid for the revamp of a refinery in Libya. The joint bid for revamping the Azzawiya refinery owned by Libya's state-run National Oil Corp was submitted in August-end, industry sources said.
The Azzawiya refinery currently processes 100,000 barrels per day and Libya plans to increase its capacity to 122,800 barrels per day. Sources said a decision is expected by the year-end and work would begin in January 2007.
Mukesh Ambani group company, Reliance Industries, is already in the exploration business and is operating the largest refinery in the country. The Reliance group is set to announce its financial results for the quarter and half-year ended September 30 on October 19.
EIL has also evinced interest in joining gas exploration
business in Turkmenistan along with GAIL India. It has
also expressed interest in pipeline and city gas distribution
and refinery upgradation projects in Central Asia.