Over the next five years, the Numaligarh Refinery Limited (NRL) intends to invest more than Rs 35,000 crore in a variety of projects.

Chairman of the company Dr Ranjit Rath said that “The company is aggressively executing few more significant projects – Numaligarh Refinery Expansion Project (NREP), Paradip Numaligarh Crude Oil Pipeline (PNCPL) and Crude Oil Import terminal at Paradip (COIT) and 2G Ethanol Project (JV project) and during the year, a 360 KTPA Polypropylene project was approved at a cost of Rs 7231 crore. In the next 5 years, NRL plans to invest more than Rs 35,000 crore in completing these projects, which will enable long-term business growth, both in terms of revenue and profit.”

Prime Minister Narendra Modi and his Bangladesh counterpart jointly inaugurated the prestigious ‘India-Bangladesh Friendship Pipeline (IBFPL) on March 18 this year, after its successful commissioning during the year.

The Chairman of NRL further said that riding high on outstanding physical and marketing performance, NRL registered the highest-ever Profit After Tax (PAT) since its inception at Rs 3703 crore as compared to Rs 3562 crore registered in FY 2021-22.