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RIL May Miss Production Deadline

Reliance Industries Ltd. may be forced to miss its deadlines for starting production at its new oil refinery in western India and a gas field off the country's eastern coast

Reliance Industries Ltd. may be forced to miss its deadlines for starting production at its new oil refinery in western India and a gas field off the country's eastern coast, the Economic Times reported, citing unnamed company officials familiar with the plans.

India's biggest company by market value may begin production at the refinery and the gas field in January 2009, missing a December deadline, as global fuel demand declines, the newspaper said. Reliance spokesman Paresh Chaudhry didn't answer calls to his mobile phone before office hours.

The newspaper said an unnamed Reliance spokesman denied that the Mumbai-based company's gas and refinery projects face delays. Reliance had said on Oct. 8 that its 580,000 barrels-a-day refinery in Gujarat state is expected to start operating by the end of November.

Author: Jo Amey