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Jamnagar News

Thursday, March 26, 2009

Good Morning Jamnagar - Cool Lakhota Video

Excellent Video filmed on Lahota lake .


Thursday, March 19, 2009

IAF - Russian MIG-29 Fleet Grounding issue

As Russia is re-designing its defense system and making fundamental changes in air-defense, India is taking few gasps.
Russia has decided to largely grounded MiG-29 fleet, On the other hand Indian Air Force has decided not to ground its own MiG-29 squadrons for the moment.

Senior IAF officer explained that Mig-29 will continue to fly from airbases at Halwara and Jamnagar, he also emphasized the MIG-29 importance in coastal airbases of Jamnagar. Jamnagar is biggest airbase that is hosting MIG-29 fleets, MIG-29 are "all-weather air-superiority" fighters that constitute a critical element of India's "air defense capabilities" along the western front.


Essar Oil Refinery Expansion Plans

Essar Oil Ltd, flagship company of The Ruia Group is planning to continue the Vadinar Jamnagar Refinery expansion.

Essar Oil Ltd, confirmed yesterday its plans to go ahead with the expansion of its Jamnagar refinery and continuing business of petroleum retail businesses spread across the country.

The company is also laying down phased plan to expand into petrochemicals, the natural progression for any refinery, till after the second stage of refinery expansion is completed in December 2011.

This expansion project would cost about $5.5 billion, is being implemented in two phases for which the company has a loan commitment of about $4.55 billion, $700 million is from commitments in foreign loans and the remaining is from Indian lenders. Essar did mentioned that they can go for more foreign lending.

Current expansion plans are needed for Essar to de-bottleneck and upgrade its existing Jamnagar refinery, Essar is hoping to increase Jamnagar refinery's annual output capacity from 13 million tonnes (mt) to 16 mt (330,000 barrels a day) in the first phase. This phase will cost Rs 7,810 crore and it will involve installation of additional processing units (such as coker and hydro-treaters), a hydrogen-manufacturing unit and revamping of some of the existing units. The company is taking Rs 4,600-crore debt for the first phase, which is expected to be completed by December 31, 2010.


Sunday, March 15, 2009

Chandresh Patel Returning to BJP

Chandresh Patel, Former BJP MP from Jamnagar for five terms is now returning to BJP.

Chandresh Patel became rebel after being denied ticket in last Assembly elections


Sunday, March 1, 2009

RIL - RPL Merger Highlights

Today, Reliance Industries have approved a scheme of merger of its subsidiary Reliance Petroleum (RPL).

Once the merger is completed, shareholders of RPL will receive one fully paid equity share of Rs 10 each of the company for every 16 fully paid equity shares of Rs 10 each of RPL held by them.

Below are the highlights of the RIL RPL Merger meeting
  • RIL-RPL Merger: Swap ratio at 16:1.
  • RIL to issue 6.92 cr shares to RPL shareholders.
  • RIL to extinguish Treasury Stock.
  • Merger to be effective from April 1, 2008.
  • Merger to give no tax relief for RIL.
  • Merger to be EPS positive.

Mukesh Ambani, chairman and managing director of Reliance Industries said, "The merger follows enduring philosophy of creating shareholder value."



RIL - RPL Merger : Chevron Aspect

On Friday, Reliance Industries Ltd Announced its plans of RIL - RPL merger.

This will also mean that US Petro giant Chevron Corp. won't exercise its option to raise its 5% stake in Reliance Petroleum's 580,000-barrel-a-day refinery at Jamnagar.

On Saturday, US oil major Chevron confirmed its exit from Reliance Petroleum (RPL), and declared that it will sell its five per cent stake to Reliance Industries (RIL). After this, RIL's stake will be up to 75.38 per cent.

RIL Management will discuss the merger on Monday.