The Essar Group said the proposed buy on fruition will increase Essar’s capacity by two thirds, effectively making it India’s third largest oil refiner by volume with a capacity of 58 million tonnes in the long term.
Essar Energy also said the Stanlow refinery buy is at a competitive price of $350 million for the 296,000-barrels-a-day plant translates to $1,182 a barrel of daily throughput. With the completion of the acquisition.
Published 19 February 2011, 14:46 IST