RIL likely to see big cash flow boost after adding world’s largest ROGC, petrochem portfolio expansion
Posted on 3rd January 2018 |
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Reliance Industries is likely to see a big cash-flow boost as projects of over $40 billion start to deliver in full swing this fiscal while capex falls, international brokerage house CLSA said today. In a report, CLSA said that the stabilisation of just-commissioned refinery off-gas cracker (ROGC) and petcoke gasification projects would boost EBITDA, PTI reported.
ROGC is the latest addition to the RIL’s portfolio as the world’s first ever and the largest. 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.
With the commissioning of ROGC complex, the largest ever expansion of RIL’s petrochemicals portfolio comes to a flawless completion. Jamnagar already has a capacity to process 60 million tonne of crude oil a year, making it the biggest refining complex in the world. The shares of RIL closed at Rs 911.50 at NSE up by 0.19 percent on Tuesday.
About the innovative design
This is one of the largest capital expenditure programme globally in the sector in recent times. The ROGC complex has a unique configuration as it uses off-gases from RIL’s two refineries at Jamnagar as feedstock. This innovative 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. ROGC is the latest addition to RIL’s existing cracker portfolio, consisting of cracker facilities at Nagothane in Maharashtra and Hazira, Dahej and Vadodara in Gujarat.
Competitive and flexible cracker portfolio
There are nearly 270 Ethylene plants globally with a combined capacity of over 170 MMTPA. RIL’s combined ethylene capacity is now close to 4 MMTPA at five of its manufacturing sites. With ROGC and imported Ethane, RIL has one of the most competitive and flexible cracker portfolio. In 2017, RIL had commissioned a new Para-xylene (PX) plant at Jamnagar, with an aim to more than double the company’s PX capacity from 2.0 MMTPA to 4.2 MMTPA. The plant, with a capacity of 2.2 MMTPA, added value to the output from refineries and improve profitability of the Jamnagar complex. |
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Bharti Airtel defers Q2 results till Nov 14 over ambiguity on AGR verdict
Posted on 29th October 2019 |
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Bharti Airtel said on Tuesday it has postponed its second-quarter earnings report to mid-November, as the wireless operator sought clarity on the court ruling asking telecom firms to cough up overdue payments to the government.
Shares of the company, which was expected to release its quarterly numbers later in the day, dropped 3.3 per cent in early trade. |
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Rupee slips 8 paise vs US dollar in early trade amid drop in oil prices
Posted on 7th October 2019 |
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The rupee on Monday opened eight paise lower at 70.96 against the US dollar amid drop in crude oil prices and rise in Asian equities. The domestic unit on Friday closed almost flat at 70.88 against after the Reserve Bank of India (RBI) in a widely expected move cut key interest rates by 0.25 percentage point. On a weekly basis, the local unit slumped by 32 paise. |
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LIC pips private insurers in first-year premium growth during April-August
Posted on 13th September 2019 |
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In the first five months of the current financial year, first-year premiums of life insurance companies grew by 39.84% (year-on-year) at Rs 1.05 lakh crore as compared to Rs 75,588.35 crore in April-August of 2018-19. Life Insurance Corporation of India (LIC) continued to grow at a faster pace compared to private insurance players, shows the data from the Insurance Regulatory and Development Authority of India (Irdai). |
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Apollo Hospitals rules out further stake sale
Posted on 13th September 2019 |
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Apollo Hospitals Enterprise (AHEL) has ruled out further dilution of promoters’ stake in the company. The company also said its Rs 1,337-crore stake sale of Apollo Munich Health Insurance with mortgage major HDFC will be concluded by October. Following these stake sales, the promoters’ pledged position will come down from a high of 76% to 54% by October and eventually to 20% by November or December, company sources said here. |
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World trusts India on Kashmir, not us: Pakistan minister Ijaz Ahmed Shah
Posted on 13th September 2019 |
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In a major embarrassment for Pakistan and its Prime Minister Imran Khan, the country's Interior Minister Ijaz Ahmed Shah, a retired brigadier, said the international community didn't believe Pakistan's narrative on Kashmir; instead it is India whose version is trusted. |
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