Procurement News Notice |
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| PNN | 10387 |
| Work Detail | Mexico, Mozambique and USA have shown interest in importing paraffin wax from Bharat Petroleum Corporation Ltd's Assam based refinery, Numaligarh Refinery Limited (NRL). NRL in its 23rd Annual General Meeting in Guwahati on Friday announced the year marked a new beginning for NRL with commercial production and sale of paraffin wax. By end of the financial year, NRL was able to capture 40-45% share of the domestic wax market. NRL wax was also exported and marketed in neighbouring Nepal and Kenya. NRL's wax has evinced interest from countries as far as Mexico, Mozambique and USA with exports likely to commence shortly. Sale of liquid Nitrogen also commenced during the year, adding to the product slate. A dividend pay out of 35 % for the year 2015-16 was declared. The Company in a statement stated it has recorded the highest ever net profit of Rs. 1,222 crores, registering a marked growth of 70% over previous year's net profit of Rs.718 crores. This is for the first time that the company has recorded a net profit above Rs. 1,000 crores. Sales turnover during the year at Rs. 11,925 crores recorded a growth of 10.14% over previous year. Net worth of the Company as on March 31, 2016 reached Rs. 3,958 crores. NRL recorded a sales volume of 2,619 TMT (Thousand Metric Tonnes (TMT) in 2015-16. Chairman of NRL, S. Varadarajan said, "Continuing the trend of last year's exceptional performance, your Company has once again delivered excellent results in 2015-16. This was possible only due to the relentless efforts of all individual across the organization." The company added NRL's refinery expansion and Bio-refinery proposals have been included in the Government of India's Hydrocarbon Vision 2030 for the North East. The company informed that the Indo-Bangla product pipeline is also under inter-Ministerial discussion between the two countries. Implementation of the Hydrotreater Unit (DHDT) is gaining momentum and is targeted to be completed by January 2018. |
| Country | India , Southern Asia |
| Industry | Oil & Gas |
| Entry Date | 15 Oct 2016 |
| Source | http://economictimes.indiatimes.com/news/politics-and-nation/mexico-mozambique-usa-keen-to-import-paraffin-wax-from-numaligarh-refinery/articleshow/54253637.cms |
