Reliance Commissions New Paraxylene Plant at Jamnagar on Reliance Founder’s Day
Reliance Industries Limited (RIL) has announce commissioning of the first phase of Para-xylene (PX) plant at Jamnagar, Gujarat.
The plant with capacity of 2.2 MMTPA is built with state-of-the-art crystallization technology from BP which is highly energy efficient and environment friendly.
With the commissioning of this plant, RIL’s PX capacity will more than double from 2.0 MMTPA to 4.2 MMTPA.
“Commissioning of the new PX plant marks beginning of the culmination of a series of projects including the refinery off-gas cracker, ethane import project and petcoke gasification. These projects are part of the largest contemporary investment, in excess of Rs. 100,000 crore, in Refining and Petrochemicals sector anywhere in the world. Our projects are on schedule and at an advanced stage of mechanical completion. The new PX capacity takes us a step closer to being among the top 10 petrochemical players globally. This is a fitting tribute to our visionary Founder Chairman Shri Dhirubhai H. Ambani,” said Mukesh D. Ambani, Chairman and Managing Director, Reliance Industries Limited.
Reliance Industries Limited (RIL) is India’s largest private sector company, with a consolidated turnover of INR 296,091 crore (US$ 44.7 billion), cash profit of INR 40,737 crore (US$ 6.1 billion) and net profit of INR 27,630 crore (US$ 4.2 billion) for the year ended March 31, 2016.
The move comes on the birth anniversary of Reliance’s Founder Chairman Padma Vibhushan Shri Dhirubhai H. Ambani.
On commissioning of entire PX capacity, Reliance will be the world’s second largest PX producer with 9% of global PX capacity and 11% share of global production.
The new PX capacity will add value to the output from refineries and improve the profitability of the Jamnagar complex. PX is the building block for the entire polyester chain.
The new capacity will complete the integration within Reliance’s polyester value chain, leading to improved margins and also strengthen its position in polyester industry globally.
RIL is the first private sector company from India to feature in Fortune’s Global 500 list of ‘World’s Largest Corporations’, currently ranking 215th in terms of revenues and 126th in terms of profits. RIL ranks 238th in the Financial Times’ FT Global 500 list (2015) of the world’s largest companies. RIL ranks 121st on the Forbes Global 2000 list (2016), continuing to be the top-ranked Indian company. RIL’s activities span hydrocarbon exploration and production, petroleum refining and marketing, petrochemicals, retail and telecommunications.