Reliance to start new refinery in 2008

India’s top private firm, Reliance Industries Ltd., hopes to commission its new 580,000 barrel per day (bpd) refinery by the second quarter of 2008 and aims to acquire oil retailing assets in the United States and Europe, a top official said on Tuesday.

The refinery was scheduled to be completed by December next year. It is being built by its subsidiary Reliance Petroleum Ltd., in which Chevron Corp. holds 5 percent.

Zeenews