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Thursday, Mar 31, 2005

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Kochi Refineries signs MoU with BPCL

Our Bureau

Kochi , March 30

KOCHI Refineries Ltd (KRL) has signed an MoU with Bharat Petroleum Corporation Ltd, which envisages a crude oil throughput of 7.5 million tonnes and a turnover of Rs 12,862 crore for 2005-06.

KRL is expected to generate a gross margin of Rs 723 crore, and gross profit for the year has been pegged at Rs 598 crore. The MoU was signed between Mr Ashok Sinha, Chairman and Managing Director of BPCL, and Mr B.K. Menon, Managing Director of KRL, at New Delhi.

Other parameters of the MoU are normal bitumen sales of 1,28,000 tonnes and special grade bitumen sale of 32,000 tonnes.

Construction of a detention pond of 1,20,000 metric cube for rainwater harvesting and implementation of single buoy mooring facilities are the other features which figure in the MoU.

The quality assurance targets include certification audit for ISO 17025 and quality assurance benchmarking of product correlation scheme. KRL has been constantly achieving excellent rating ever since the first MoU was signed by the company and the Government and later with BPCL, a press release issued here has said.

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