Reliance selects US-based Fluor for project management at Jamnagar refinery

Besides assisting in project management, Fluor will also provide engineering and procurement services for RIL's pet coke gasification project at Jamnagar

Reliance Industries Ltd (RIL), India's largest petrochemicals company said it selected US-based Fluor Corp to project management services for its projects being executed at Jamnagar refinery complex. No financial details were provided.

In addition to assisting RIL in project management, Fluor will also provide engineering and procurement services for the company's pet coke gasification project, it said in a release.

RIL said, the scope of the project management services to be provided by Fluor includes several world-scale units including petroleum coke gasification units, refinery off-gas cracker and downstream petrochemical plants, a captive power plant, associated utilities and offsites. 

The completed gasification project will gasify petroleum coke to produce fuel and hydrogen for the expanded refinery and petrochemical complexes and captive power plant as well as feedstock for future chemicals production, the company added. 

According to RIL, the investment in the expansion of Energy and Petrochemicals Projects represents one of the largest such investments globally. The proposed coke gasification facility is also among the largest such projects ever built.

 

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CBI arrests MSTC's former CMD Malay Sengupta, three others in Rs464 crore fraud case

The MSTC official allegedly accepted forged and fake documents and released 80% of the export value to six exporters

Mumbai: The Central Bureau of Investigation (CBI) has arrested former top officials of Metal and Scrap Trading Corporation (MSTC) in an alleged gold export scam worth Rs464 crore in the public sector undertaking by accepting forged documents from exporters, CBI spokesperson said on Thursday, reports PTI.

The agency arrested MSTC's the then chairman and managing director (CMD) Malay Sengupta and chief general manager Tapas Basu, CGM from Kolkata, and an insurance consultant SK Sinha from Delhi for their alleged involvement in the case.

They have been sent to police remand till 10th May. They had allegedly colluded with insurance consultant Mr Singh in 2006 to cause the loss of Rs464 crore to the mini-ratna company.

"In pursuance of the criminal conspiracy, the six exporters submitted forged and fake documents. The three MSTC officials abused their official positions as public servants and allegedly accepted the said forged and fake documents and released 80% of the export value to them," CBI spokesperson said in New Delhi.

As part of the alleged conspiracy, directors of six export houses -- Ushma Jewellery and Packaging Export Pvt Ltd, Space Mercantile Company Pvt Ltd, KA Malle Pharmaceutical Company Ltd, Joshi Bullion and Gems Jewellery Pvt Ltd, Bond Gems Pvt Ltd and Indo Bonito Multinational Pvt Ltd --submitted forged and fake documents to get released 80% of the export value to them, agency sources said.

"The accused officials of MSTC allegedly, knowing that documents were fake, accepted them as part of a conspiracy and released the export value to them causing a loss of Rs464 crore to company", the spokesperson said.

CBI had earlier arrested six accused Shishir Dharkar, the then Chairmen of Pen Urban Co-Operative Bank, his wife Gul Raihana Omer, Prem Kumar Sharma, the then Advisor of the Bank, consultant Rahis Ahmed, Jayesh Desai, Associate and Consignee at UAE and R Mani, Consultant based at New Delhi.

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COMMENTS

AB

5 years ago

This is not the first time that the MSTC top boss is in the anti-corruption net. The PSU is too corrupt an organisation.

Max Bupa appoints Manasije Mishra as CEO designate

Prior to the appointment with Max Bupa, Mr Mishra was the managing director and CEO of HSBC InvestDirect

Mumbai: Private health insurance company Max Bupa on Thursday said it has appointed Manasije Mishra as the Chief Executive Officer designate. Mr Mishra's appointment will be subject to requisite regulatory approvals, Max Bupa said in a release.

He will succeed Damien Marmion, the founding CEO of Max Bupa, and work closely with him over the next few months to ensure a seamless transition and would assume the position of CEO of Max Bupa thereafter.

Mr Mishra will report through the Chairman, Analjit Singh, to the Board of Directors of Max Bupa and work closely with the management of Max India and Bupa Plc.

Prior to his appointment with Max Bupa, Mr Mishra was the managing director and CEO of HSBC InvestDirect where he successfully integrated the newly acquired company, IL&FS Investment, with the HSBC Group.

Mr Marmion will be moving back to Bupa, which is a 26% partner in the joint venture.

Max Bupa was launched as a pure play health insurance provider about two years ago and has already established itself as an innovation leader in the industry.

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