BRPL signs MOU with IndianOil

Bongaigaon Refinery & Petrochemicals Ltd (BRPL) has announced that the Company has signed a Memorandum of Understanding (MOU) with Indian Oil Corporation Ltd (IndianOil) the holding Company for the year 2007-08 on March 08, 2007 at the Corporate office of IndianOil, New Delhi. The MOU was signed by Shri. Sarthak Behuria, Chairman, from Indian Oil and Shri. A K Sarmah, Managing Director from the Company. Shri. A Saran, Director (Operations) Shri. T V John, Director (Finance) from the Company were present on the occasion alongwith other members of the Board of the Company and senior officials of the Company and IOCL.

Various targets for physical and financial parameters have been laid out in the MoU which envisages a total crude throughput at 2.00 million metric tones based on the crude availability projections and a distillate yield 84.7% (in Excellent category).

The Company has been performing consistently well under the MOU system of evaluation. The overall performance of the Company for the year 2005-06 has been rated as excellent by IndianOil.

Source : Equity Bulls

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