Assam-based Numaligarh Refinery (NRL) has finalized the project insurance coverage for its ongoing six million tpa integrated refinery expansion project being implemented at an estimated cost of more than Rs 28,000 crore.
The policy provides comprehensive coverage to both the refinery expansion as well as the cross-country pipeline (length 1,640 km) from Paradip, Odisha to Numaligarh along with a Crude Oil Import Terminal at Paradip, for receipt of imported crude oil.
The ambit of the policy also includes the interests of various stakeholders such as contractors, sub-contractors, manufacturers, suppliers, vendors, lenders, consultants and other professionals involved in the project.
The policy will cover the entire project period up to April 2025 during which the project is expected to be completed and commissioned.
The Numaligarh Refinery Expansion Project is a prestigious and landmark project in the North-East region to treble the refining capacity from three million tpa to nine million tpa and is being pursued as part of the government of India's NE Hydrocarbon Vision 2030.