BIZ-NRL

NRL to invest Rs 62cr in CSR activities in Assam in 2019-20
    Guwahati, Oct 13 (PTI) North East India's largest
refiner Numaligarh Refinery Ltd on Sunday said it will pump in
over Rs 60 crore in various developmental projects under its
corporate social responsibility (CSR) activities during 2019-
20.
    Of the total spending under the CSR head, the
miniratna PSU in Assam's Golaghat district has earmarked 60
per cent funds for school education, health and nutrition
programmes.
    "In 2019-20, our CSR budget is Rs 62 crore. In this
fiscal, a few aspirational districts are under consideration
for undertaking developmental activities apart from other
programmes," NRL Managing Director S K Barua told PTI here.
    The developmental programmes in these aspirational
districts will be other than the "local areas" of the plant as
defined in the CSR and Sustainability Policy of NRL, he added.
    On the proposed areas where the company plans to spend
the CSR amount, Barua said, "As per the Government of India
guidelines, 60 per cent of the budgeted amount needs to be
spent on school education, health and nutrition."
    Apart from these fields, NRL will work on many other
focus areas such as skill development and livelihood
generation, rural development, sanitation, safe drinking
water, Swachh Bharat Mission and promotion of sports, he
informed.
    When asked about last fiscal's CSR spending, Barua
said, "During 2018-19, the total CSR expenditure of NRL was Rs
54.85 crore. Every financial year, at least 2 per cent of the
average net profit made during the three immediately preceding
financial years is earmarked for CSR activities."
    The NRL is expanding its capacity from existing 3 to 9
million metric tonnes per annum (MMTPA) at an investment of Rs
22,594 crore, which also includes a 1,398 km crude oil
pipeline of 9 MMTPA from Paradip to Numaligarh and a 654 km
product pipeline of 6 MMTPA from Numaligarh to Siliguri, over
the next 48 months.
    With implementation of the mega expansion project, the
NRL is looking to ramp up its headcount by over 62 per cent to
nearly 1,425 in the next four years.
    Apart from direct employment, around 12,000 indirect
jobs will also be created during the construction stage of the
new units for increasing its output.
    Meanwhile, the company has already announced plans to
diversify its portfolio and decided to enter exploration of
crude oil within next few months.
    It has received board approval for an initial
investment of Rs 150 crore for diversification into
exploration business and has applied for necessary government
approvals for two blocks in Assam along with other partners.
    The company was set up in accordance with the
provisions made in the historic Assam Accord and has been
conceived as a vehicle for speedy industrial and economic
development of the North Eastern region.
    In NRL, BPCL has 61.65 per cent stake, while Oil India
and Assam government have 26 per cent and 12.35 per cent
holding respectively.
    The present authorised capital of the company is Rs
1,000 crore and paid up capital is Rs 735.63 crore.
    The company's product range includes LPG, naphtha,
motor spirit, aviation turbine fuel, superior kerosene oil,
high speed diesel, raw petroleum coke, calcined petroleum
coke, sulphur, wax, nitrogen, mineral turpentine oil, special
boiling point spirit and liquid sulphur. PTI TR
SBN SBN

(This story has not been edited by THE WEEK and is auto-generated from PTI)