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RIL skids on leak report

Mumbai, Oct. 21: Reliance Industries (RIL) has shut down the fluidised catalytic cracking unit of its 31-million-tonnes-a-year Jamnagar refinery after spotting a leakage.

Reacting to the report, the company’s share slipped Rs 12.95 to Rs 467.90, though some dealers said the fall was more in line with the market trends.

A team of technical experts is assessing the situation and normalcy is expected to resume in about two weeks.

The company said the shut down of the unit is not expected to have any adverse impact on its performance. Other units of the refinery were operating normally. A fluidised catalytic cracker converts gas oil into light products such as gasoline and naphtha.

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