Guwahati, July 07, 2023: In a momentous development, the Numaligarh Refinery Limited (NRL) in Assam has been elevated from ‘Schedule B’ to ‘Schedule A’ category Central Public Sector Enterprises by the Indian government. The Ministry of Petroleum and Natural Gas officially announced this upgrade on July 4, 2023.
This advancement to ‘Schedule A’ status enables NRL to strive for the prestigious Navratna status, granting greater financial autonomy and decision-making capabilities. The refinery can now undertake more expansive and intricate projects while swiftly forging joint ventures, strategic partnerships, and special-purpose vehicles to drive strategic growth.
As a Navratna company, NRL gains the authority to invest up to Rs 1,000 crore without seeking approval from the central government. The Assam government holds a 26 percent stake in NRL.
NRL has established itself as one of the top 20 Central Public Sector Enterprises in India, excelling in sales revenue and profitability. Among Indian PSU refineries, NRL in Assam stands out as a high-performing facility.
NRL has also ventured into international markets, commencing the export of petroleum products to neighboring countries, aligning with the government’s Act East Policy.
As the largest refinery in northeastern India, NRL currently operates with a capacity of 3 million metric tonnes per annum (MMTPA). Furthermore, the refinery is actively implementing a mega refinery expansion project to triple its refining capacity to 9 MMTPA, alongside the construction of a trans-national crude oil pipeline from Paradip in Odisha.
With ongoing projects totaling investments of approximately Rs 35,000 crores in the region, NRL is recognized as one of the largest investments in the oil and gas sector.
Congratulating NRL on this achievement, Assam Chief Minister Himanta Biswa Sarma emphasized that this recognition serves as a resounding endorsement of the Assam Government’s decision to enhance its shareholding in NRL. NRL’s world-class infrastructure positions it as a prominent refining destination, fueling its rapid emergence in the industry.
