Mangalore : MRPL Chairman Sudhir Vasudeva said that ONGC Mangalore Petrochemicals Ltd (OMPL), promoted by ONGC Ltd and MRPL, will make its first shipment of products by January 2014.

Addressing the press meet held at MRPL conference Hall on September 23, Monday after the 25th annual general meeting of MRPL, he said that

OMPL work is almost complete and its commissioning process will begin from November and will be able to begin the first shipment by the end of January.

Paraxylene, and benzene would be the two major products of OMPL. The OMPL will be set up in 442 acres in Mangalore Special Economic Zone with a estimated cost of Rs 5,750 crore, he said.

Speaking on the Phase III, he said that the Phase III Refinery project would increase complexity and profitability and is nearing completion and the company will be soon able to concentrate on yield and profit.

He also said that the low value naphtha and black oils will be upgraded to produce value added products like Propylene and superior grade HSD will be manufactured.

MRPL has also extended the product supply term agreement with STC and will supplying 1.36 MMT per annum of petroleum products, for three years.

MRPL Managing Director P.P. Upadhya, director Vijay G Joshi and director finance Vishnu Agarwal were present at the press meet.