Mangalore Refinery and Petrochemicals Limited (MRPL) has received authorisation from the Petroleum and Natural Gas Regulatory Board (PNGRB) to lay, build, operate, or expand a petroleum and petroleum product (ATF) pipeline. The pipeline will extend from Devangonthi to the Existing Common User Fuel Farm Station and the Upcoming Satellite Fuel Farm Station inside Kempegowda International Airport, Bengaluru.
The authorisation was granted under the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and the project is expected to be completed within 36 months. The pipeline system will have a capacity of 2.5 million metric tonnes per annum (MMTPA).
This development marks a significant step for MRPL in expanding its infrastructure capabilities. The project involves a domestic entity, and there is no interest from the promoter group or related party transactions involved in this contract.
Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).