MRPL shifts focus to chemicals, shelves refinery expansion

08 Jun 2023 CW Team

India's Mangalore Refinery and Petrochemicals has decided to cancel its planned refinery expansion in order to focus on increasing its petrochemical production capacity, which could amount to Rs 470 billion.

The company is shifting its efforts towards boosting the production of chemicals used in plastics and paints, driven primarily by the changing energy landscape influenced by the growing popularity of electric vehicles. The company's main investment will be directed towards a new production plant in Karnataka. Indian and Chinese refiners, as well as major players like Exxon Mobil Corp., are placing their bets on petrochemicals to support future oil demand as the transition to electric vehicles gradually reduces the consumption of transportation fuels.

The new MRPL plant is expected to become operational within the next three to five years. India, being a net importer of petrochemicals, is faced with a "make-or-buy" decision. There is a greater value in local production.

MRPL was primarily owned by state-controlled Oil and Natural Gas Corp. (ONGC), plans to allocate approximately Rs 300-400 billion for the new plant, with an additional Rs 60-70 billion for smaller petrochemical units. This investment will help mitigate risks for MRPL's future during the energy transition.

ONGC intends to spend a total of Rs 1 trillion to expand its petrochemical capacity to 8 million tonne per year by 2030, up from the current 3.4 million tonne.

Also read:
Focus on smaller refineries to overcome land acquisition challenges
India’s oil imports down by 8.3% in April y-o-y

Infrastructure Urban

05 Nov 2025

TBO Tek Q2 Profit Climbs 12%, Revenue Surges 26% YoY

TBO Tek Limited one of the world’s largest travel distribution platforms, reported a solid performance for Q2 FY26 with a 26 per cent year-on-year increase in revenue to Rs 5.68 billion, reflecting broad-based growth and improving profitability.The company recorded a Gross Transaction Value (GTV) of Rs 8,901 crore, up 12 per cent YoY, driven by strong performance across Europe, MEA, and APAC regions. Adjusted EBITDA before acquisition-related costs stood at Rs 1.04 billion, up 16 per cent YoY, translating into an 18.32 per cent margin compared to 16.56 per cent in Q1 FY26. Profit after tax r..

Northern Graphite, Rain Carbon Secure R&D Grant for Greener Battery Materials

Northern Graphite Corporation and Rain Carbon Canada Inc, a subsidiary of Rain Carbon Inc, have jointly received up to C$860,000 (€530,000) in funding under the Canada–Germany Collaborative Industrial Research and Development Programme to develop sustainable battery anode materials.The two-year, C$2.2 million project aims to transform natural graphite processing by-products into high-performance, battery-grade anode material (BAM). Supported by the National Research Council of Canada Industrial Research Assistance Programme (NRC IRAP) and Germany’s Federal Ministry for Economic Affairs a..

Antony Waste Q2 Revenue Jumps 16%; Subsidiary Wins Rs 3,200 Cr WtE Projects

Antony Waste Handling Cell Limited (AWHCL), a leading player in India’s municipal solid waste management sector, announced a 16 per cent year-on-year increase in total operating revenue to Rs 2.33 billion for Q2 FY26. The growth was driven by higher waste volumes, escalated contracts, and strong operational execution.EBITDA rose 18 per cent to Rs 570 million, with margins steady at 21.6 per cent, while profit after tax stood at Rs 173 million, up 13 per cent YoY. Revenue from Municipal Solid Waste Collection and Transportation (MSW C&T) reached Rs 1.605 billion, and MSW Processing re..