Shares of Essar Oil were up over 2% at Rs 59.50 after the company announced that it has succesfully commissioned the Amine Regeneration Unit, which is part of Phase 1 expansion of the Vadinar refinery expansion.
After completion of Phase I expansion the refinery's capacity at Vadinar will increase 18 MMTPA (375,000 barrels per day) from 14 MMTPA (300,000 bpd), as well as increase its complexity to 11.8 from 6.1, the company said in a release to the stock exchanges.
The project is nearing completion and the increased throughput of 18 MMTPA will commence by March 2012, the release said.
The stock has registered volume of over 739,000 shares on the BSE and NSE so far.
