Reliance Industries Commissions Major Refining Complex in Jamnagar

Reliance Industries has established a major refining and petrochemical complex in Jamnagar, on India’s western coast. This complex was India’s first major private sector refinery and was commissioned in approximately 30 months. A second export-oriented refinery was subsequently added, bringing the combined complex capacity to roughly 1.4 million barrels per day.

The development involved significant financing, including promoter capital, public equity, and international borrowing. For the later $6 billion export refinery, the financing structure was approximately 42 per cent equity and 58 per cent debt. The project also secured a $500 million loan guarantee from the US Export-Import Bank to support the purchase of American equipment and services.