MRPL initiates downward integration by amalgamation with ONGC Mangalore Petrochemicals Ltd

10-Aug-15

MRPL has initiated its downward integration by amalgamation with ONGC Mangalore Petrochemicals Limited (OMPL)."A scheme of amalgamation of OMPL with the company has been proposed for approval of various regulatory authorities. The synergy between OMPL and MRPL will provide higher returns for stakeholders, adding further value to the product streams of your refinery and flexibility to increase its GRM, optimal utilization of the plants of MRPL," MRPL chairman D K Saraff said. OMPL had recently commissioned a state-of-the-art Aromatic Complex with 914,000 tpa capacity of Paraxylene and 283,000 tpa capacity Benzene adjacent to the refinery. The amalgamation will ensure optimal utilization of resources which will lead to improvement in overall working culture and environment