Cals Refineries has ambitious plans
NDTV Profit - 11 Jul 2008, New Delhi
While there is a lot of buzz surrounding the 27 million tonnes refinery of RIL at Jamnagar, another company is quietly building a refinery almost as big as the RIL refinery. This is Spice Energy`s venture at Haldia called Cals Refineries.
The first phase of the Cals Refineries will be ready by 2010 and another 5 MTPA will be ready after a year`s time, said Ravi Chilukiri, Group CEO, Spice Energy.
Its not just setting up a refinery but an assured supply of crude as well as an assured off take of the product
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:-) There is also a report that Spice Energy has purchased a stake in Cals for it to act as a shell company. The other company that they've purchased is Hitkari Fibres. Now if its a shell company, management control rests with the Spice Group and even if Cals does fabulous business, how much will show in its accounts is a question that will motivate buying in this scrip.