Reliance plans major expansion at Jamnagar oil refinery complex
Reliance Industries is considering expanding its oil processing capacity by over 40% by 2030, with the expansion of capacity at its dual refinery complex in Jamnagar in India’s Gujarat state to 2Mnbd (100Mta). Installed capacity is currently 1.2Mbbd (60Mta), though they typically process 1.4Mta (70Mta).
The plans signal that Reliance remains positive on the outlook for India’s fuel demand even as the government is considering plans to electrify all of the country’s vehicles by 2032. Still, India’s demand for diesel and gasoline to power existing and expecting combustion engine vehicles will likely remain strong as its population grows and becomes wealthier.
Although, Reliance has yet to prepare a blueprint for the expansion and details of the costs, it would require approx. USD10Bn to complete the plan.