Guwahati, 7 July: Chief minister of Assam Himanta Biswa Sarma applauded the Indian government’s choice to upgrade Numaligarh Refinery Limited (NRL) to ‘Schedule A’ Central Public Sector Enterprises (CPSE).
The Ministry of Petroleum and Natural Gas announced the upgrade to Schedule A on July 4, 2023.
This comes following NRL’s impressive financial and operational performance and its contribution to the growth of the Northeast region’s economy.
Assam chief minister Himanra Biswa Sarma tweeted, “This recognition is also a thumping endorsement of Assam Government’s decision to enhance its shareholding in the NRL. With its world-class infrastructure, NRL is fast emerging as a major refining destination.”
In terms of sales revenue and profitability, NRL is among the top 20 CPSEs in India. With industry-leading figures for distillate production, specific energy use and gross refining profit, NRL is recognised as an exemplary model refinery in India. The NRL has started exporting petroleum products to neighbouring countries, raising its profile internationally and assisting the GoI’s Act East Policy as a catalyst.
NRL, the largest refinery in Northeast India with a 3 MMTPA capacity is currently working on a massive refinery development project to triple that capacity to 9 MMTPA and establish a transnational crude oil pipeline from Paradip in Odisha.
NRL is now eligible for Navratna status which bestows greater financial autonomy as a result of the promotion to Schedule A status. As a result, the organisation will be able to quickly decide whether to form joint ventures, strategic alliances or special purpose companies for the aim of strategically expanding.