RPL Jamnagar refinery near completion

Reliance Petroleum Board of Directors at its meeting held on October 21, 2008, has approved the disclosures, which were reviewed by the Audit Committee. The status of the Project as on September 30, 2008 is in accordance with the major milestones stated in the Prospectus dated April 28, 2006.The Company had raised Rs81bn through Initial Public Offering. As on September 30, 2008, the Company has utilised Rs257.55bn for the project against a projected utilisation of funds of Rs256.63bn. The project is in an advanced stage of completion and several process units, utilities and logistics infrastructure are mechanically complete. Other process units are under pre-commissioning trials currently. During the quarter ended September 30, 2008, the company received 20 complaints, which along with one complaint pending at the beginning of the quarter were resolved and there was no complaint pending on September 30, 2008.