Essar Oil refinery gets the go ahead - Views on News from Equitymaster

Helping You Build Wealth With Honest Research
Since 1996. Try Now

  • MyStocks

MEMBER'S LOGINX

     
Login Failure
   
     
   
     
 
 
 
(Please do not use this option on a public machine)
 
     
 
 
 
  Sign Up | Forgot Password?  

Essar Oil refinery gets the go ahead

Nov 30, 1999

The committee appointed by financial institutions to look into the viability of the refinery being implemented by Essar Oil has reiterated that the work should not be delayed any further. The refinery is over 67% complete. This has been reported by a leading national daily. The committee has stated that the cost of the refinery is reasonable and in line with the investments made by public sector units. Infact the committee has stated that the cost, Rs 74 bn, is suitable for a 9 MMTPA refinery, whereas actual refinery capacity (installed) is much higher at 10.5 MMTPA (12 MMTPA actually).

The decision is likely to come as a big boost to the Essar group that has been facing a cash crunch for some time now. The group is also looking for a strategic partner for the refinery and is considering giving a 26% stake to the same. This is expected to bring in fresh resources into the company that will help in its completion.

The Essar refinery lacks a retail distribution network and this will likely be a stumbling block as the sector heads into an environment of excess capacity. Inviting a domestic oil major, with a retail distribution network, would definitely benefit the company.

Equitymaster requests your view! Post a comment on "Essar Oil refinery gets the go ahead". Click here!

  

More Views on News

Sorry! There are no related views on news for this company/sector.

Most Popular

A Critical Update on the Market (Fast Profits Daily)

Mar 30, 2021

In this video, I'll tell you why I am recommending caution in the market at this time.

My Recent Recommendation Will Profit from the Global Supply Chain Crisis (Profit Hunter)

Mar 31, 2021

A tiny chemical company, started in the Licence Raj era, is a great example of a new wealth creating opportunity.

My Stock Trading Strategy (Fast Profits Daily)

Mar 31, 2021

In this video I'll show you exactly how I go about picking stocks for trading.

What You Need to Find Hundred Baggers (Profit Hunter)

Mar 30, 2021

100 baggers of the last decade share this common trait. Here's how to use it to nail future multibaggers.

More

India's #1 Trader
Reveals His Secrets

Secret To Increasing Your Trading Profits Today
Get this Special Report,
The Secret to Increasing Your Trading Profits Today, Now!
We will never sell or rent your email id.
Please read our Terms

ESSAR OIL SHARE PRICE


Feb 9, 2016 (Close)

TRACK ESSAR OIL

  • Track your investment in ESSAR OIL with Equitymaster's Portfolio Tracker. Set live price alerts, get research alerts and more. Get access now...
  • Add To MyStocks

ESSAR OIL 8-QTR ANALYSIS

COMPARE ESSAR OIL WITH

MARKET STATS