MRPL expects Rs 100-150 crore per year benefit from Kochi- Mangaluru pipe commissioning, says MD

Mangalore Refinery and Petrochemicals (MRPL) is looking at Rs 100-150 crore per year benefit from the Kochi-Mangaluru pipe commissioning, said M Venkatesh, Managing Director of the company. The MRPL stock has been buzzing recently after the Prime Minister inaugurated the nearly 450 kilometer Kochi- Mangaluru pipeline.

"We are completely ready in terms of hydrogen generation also as a feedstock. The gas turbines in the refinery are under modification and we expect that to happen by the year-end," said Venkatesh in an interview with CNBC-TV18.

On the debt front, he said, "We have significant debt in our books and do not think debt will reduce in FY22. We shouldn't be adding much to the debt but it all depends on how the market recovers and globally how the COVID aspects are taken care."