MRPL posts Rs 1,148 crore net profit

MRPL posts Rs 1,148 crore net profit in 2015-16

Mangaluru: Mangalore Refinery and Petrochemicals Limited (MRPL), a Govt. of India Enterprise and a subsidiary of ONGC Ltd., held a media interaction at Gold Finch here, on July 18.

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Speaking of MRPL’s performance for the year 2015-16, Managing Director Kumar said that MRPL had achieved the highest ever throughput of 15.53 MMT during the year. It had the highest ever diesel production of 6.491 MMT and the highest ever LPG dispatch of 810 MMT during the year. The refinery made a financial turnaround by achieving a net profit of Rs 1,148 crore compared to a loss of Rs 1,712 crore during 2014-15.

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Kumar further said that MRPL had paid Rs 11,507 crore as duties and taxes to the central government and Rs 949 crore as taxes to the state government during 2015-16. “MRPL entered the Polypropylene market in April 2015 and achieved a 35% market share in Polypropylene in the south zone by March 2016,” he added.

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Following the Supreme Court’s directives and to meet the Govt of India’s Auto Fuel upgradation policy, MRPL has embarked on upgrading its facilities to produce BS-VI grade petrol and diesel by April 2020. This will reduce the sulphur content in petrol and diesel to 10 ppm level and greatly help reduce environment pollution caused by automobile emissions.

“For this, the MRPL needs to set up some new facilities for which additional land is required. Further, MRPL is planning to enhance its refining capacity to 18/21 MMTPA with a low cost revamp,” said Managing Director Kumar.

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MRPL also has plans to set up a Raw Petroleum Coke gasification complex to produce SYN GAS and subsequent potential to produce value-added chemicals such as urea (Fertiliser), acetic acid, acrylates, etc. and production of Linear Alkyl Benzene (LAB), a feedstock to produce detergents.

The State High-Level Clearance Committee (SHLCC) of Govt of Karnataka has cleared land allocation of 1050 acres for MRPL’s future projects. This includes the land for setting up new facilities, 33% green belt and rehabilitation facilities. The land acquisition process is on through KIADB.

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The land to the north of the existing refinery mainly in Kuthethur and Permude villages (around 850 acres) is proposed to be acquired for the new facilities and green belt. In Permude, 446 acres of land belonging to 138 RTC holders has been sought and 108 of them have consented with the proposal. In Kuthethur, 303 acres of land belonging to 85 RTC holders is in the process of acquisition and 65 consents have been obtained so far. Balance land near Mulur and Kandavara villages has also been proposed to be acquired for rehabilitation purposes. The details of the rehabilitation package would be decided by the government authorities, added Kumar.

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