Numaligarh Refinery Finalizes Insurance Coverage for MMTPA Integrated Refinery Expansion Project

Assam-based Numaligarh Refinery Limited (NRL) has finalized project insurance coverage for its 6 MMTPA Integrated Refinery Expansion Project under implementation, estimated to cost over Rs. 28 000 crores.

NRL said the policy provides full coverage for both the refinery expansion as well as the transborder pipeline (length 1640 km) from Paradip, Odisha to Numaligarh, as well as a crude oil import terminal at Paradip, Odisha for receiving imported crude oil. The scope of the policy also includes the interests of various stakeholders such as contractors, subcontractors, manufacturers, suppliers, vendors, lenders, consultants and other professionals involved in the project.

The policy will cover the entire period of the project until April 2025, during which the project is expected to be completed and put into operation.

The Numaligarh Refinery Expansion Project is a prestigious and historic project in the NE region aimed at tripling refining capacity from 3 MMTPA to 9 MMTPA and is being continued under the NE Hydrocarbon Vision 2030 of the Indian government.

The handover ceremony for signed policies with insurers led by New India Assurance Company Limited was held in Mumbai.

The policy documents were delivered to the Director (Finance) NRL, Indranil Mittra by GM New India Assurance Co. Ltd., Jitender Mehndiratta.

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