Angre Port to set up oil refinery in Konkan region

Angré Port has leased five acres of its industrial backup land to Arjun Refineries for setting up an edible oil refining-cum-packaging facility. The strategic leasing model will save land and reduce startup costs. Avoiding the first leg of transport from the port to a hinterland refinery completely, a port based refinery significantly cuts logistics costs for Arjun Refineries and also gives the company access to new markets in Maharashtra, North Karnataka, and Goa.

The lease is for a period of 30 years. Under the terms of the lease, Arjun Indo Agro Oils will use the land to establish a refinery and packaging unit. Arjun Indo Agro Oils will commence operations within the next two months, with a capacity of 50,000 tonnes per year in Phase One, ramping up to 100,000 tonnes in Phase Two. Angré Port will support Arjun Indo Agro Oils in the import of raw materials, and the clearance and storage of cargo through a tank terminal which will have dedicated pipelines to the refinery.

Commenting on the development, Eshaan Lazarus, Executive Director, Angré Port, said, “Angré Port welcomes Arjun Refineries to set up the first port based oil refinery in the Konkan region. This is a win-win model for both parties, as it generates revenue and cargo for the port, while providing logistics support and cost control for Arjun Refineries. Angré Port offers a distinct advantage to local industries looking to set up a new facility with medium-tolarge logistics requirement for raw materials and products.