MRPL to upgrade refinery

Mangalore Refinery and Petrochemicals Ltd. (MRPL) has announced plans to invest Rs37,943 crores (US$8.25 billion) to expand its existing refinery and build a new refinery. The company is looking to raise capacity at its existing refinery near Mangalore from 9.69 million tons per annum (TPA) to 15 million TPA at a cost of Rs7,943 crores (US$1.73 billion). It also plans to set up a new refinery near Surathkal with a capacity of 15 million TPA at a cost of Rs30,000 crores (US$6.52 billion). (August 29, 2006)