Cals Refineries to dismantle its German unit

Wednesday, 30 April 2008, 04:48 Hrs
Printer Print Email Email
Kolkata: Delhi based private sector refiner Cals Refineries will start the process of dismantling its Bayeroil Refinery in Germany from May this year and will shift the unit to West Bengal, state Industry Minister Nirupam Sen has said. "The main process units of Bayeroil Refinery would be transplanted from Germany to Haldia in East Midnapore district. The project would take two years to be operational," Sen told reporters here Tuesday. Cals Refineries has already signed a memorandum of understanding (MoU) with Haldia Development Authority (HDA) and West Bengal Industrial Development Corp (WBIDC) to set up an oil refinery with an initial outlay of 40 billion ($1 billion). The oil refinery will have five million-tonne capacity per annum. The refinery unit will also have a 100 MW captive power plant and a photovoltaic cell manufacturing unit. "Initially, we have given 200 acres at Haldia for the project and another 600 acres would be given to the company over a period of time," Sen said.
Source: IANS
GST rate cut to spur Bengaluru
The realty market in India's tech hub is set to grow as lower Goods and Services Tax (GST) rate..
SpiceJet plans aggressive
Budget passenger carrier SpiceJet plans to aggressively expand its international networks to fl..
Ola raises Rs 400 cr for electric
Leading ride-hailing cab aggregator Ola on Friday said it raised Rs 400 crore from its early in..
Fossil Group sells smartwatch
Global watch and accessories maker Fossil Group has announced to sell its smartphone technolog..