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America's dirty secret: India becomes the gasoline gusher

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cal04 Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Oct-11-06 12:48 AM
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America's dirty secret: India becomes the gasoline gusher
Subcontinent to fill the petrol production gap in the United States and Europe
Sitting on the edge of the water in the Gulf of Kutch on India's western shore is one of America's dirty secrets. A mass of steel pipes and concrete boxes stretches across 13 square miles (33sq km) - a third of the area of Manhattan - which will eventually become the world's largest petrochemical refinery.

The products from the Jamnagar complex are for foreign consumption. When complete, the facility will be able to refine 1.24m barrels of crude a day. Two-fifths of this gasoline will be sent 9,000 miles (15,000km) by sea to America.

India's biggest private company, Reliance Industries, with a market capitalisation of $33bn (£17.8bn), runs the plant. Controlled by billionaire Mukesh Ambani, whose father Dhirubhai founded the company, Reliance towers over its industry rivals, contributing 8% of India's exports.

The company's ambitions in Jamnagar have helped India move from being a net importer to an exporter of refined petroleum products. "We want to make a statement that India can be an industrial giant. Jamnagar is a refinery for the world, based out of India," said Hital Meswani, executive director of Reliance Industries. "In the mid-90s when this project was conceived, no one believed it would work. We were told there was too much capacity, returns were not great and every management consultant we hired told us don't bother."

http://www.guardian.co.uk/india/story/0,,1892584,00.html
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Kagemusha Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Oct-11-06 12:53 AM
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1. Some Canadian firm wants to build a new refinery in Eastern Canada.
Environmentalists berated it as utter madness and complete insanity because it would merely fuel the economy of the world's filthiest, energy-addicted nation, America.

People just hate refineries I guess.
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