Second Annual General Meeting of RPL in Jamnagar

Jamnagar, July 16 (UNI) The second Annual General Meeting of Reliance Petroleum Limited (RPL) was held here today to consider and approve the company's accounts for the year ended March 31 along with the directors' and auditors reports.

Addressing the first meeting of the shareholders since the historic IPO of RPL in April last year, RPL Chairman Mukesh Ambani, said ''On commissioning, RPL refinery will be the sixth largest refinery in the whole world.'' He said along with Reliance Industry Limited refinery, promoter of RPL, this will become the single largest refinery complex globally which will make Jamnagar the refining hub of the world.'' He said the demand for petroleum products continues to be strong throughout, especially in favour of lighter transportation fuels and refining margins continues to remain strong and the outlook is positive.

Since the project kicked off in December 2005, the company has made rapid strides on all fronts. The substantial progress achieved so far gives the confidence that the project is well on track for completion by December next year, he said.

Mr Ambani said during the year RPL secured all significant approvals required for implementation of the refinery project which includes SEZ approvals and notification of the refinery project as an unit in Jamnagar special economic zone.

UNI