Date:16/03/2004 URL: http://www.thehindubusinessline.com/2004/03/16/stories/2004031601070200.htm

Back Kochi Refineries signs production pact with BPCL

Our Bureau

Kochi March 15

KOCHI Refineries Ltd (KRL) has signed a memorandum of understanding with Bharat Petroleum Corporation Ltd regarding capacity utilisation and other production and performance parameters.

The MoU envisages a crude thruput of 7.55 million tonnes for 2004-05. The total turnover of the company is expected to scale Rs 9,500 crore during the coming financial year. The gross margin is expected to touch Rs 470 crore, while the gross profit is slated to be around Rs 352 crore.

The MoU was signed between Mr S. Behuria, Chairman and Managing Director of BPCL, and Mr B.K. Menon, Managing Director of KRL, here on Sunday, a press release from the company has said.

The MoU also envisages bitumen sales of 1,45,000 tonnes for the coming year, the development of an ecological park and the setting up of infrastructure facilities for rainwater harvesting. New crude oil receipt facilities are to be established, including the setting up of a single buoy mooring. On the quality front, the MoU has targeted attainment of ISO 9001 and ISO 17025 levels by the refinery.