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CALS Refineries Limited is a public listed company, listed on the Bombay Stock Exchange (BSE) with the Scrip Code 526652.
CALS in the News
Cals Refineries Rs 1,425-Cr FDI Proposal Referred to Cabinet Panel
07-06-2011, New Delhi

The Foreign Investment Promotion Board (FIPB) has recommended the proposal of Cals Refineries Ltd for Foreign Direct Investment worth Rs 1425 crore for the consideration of the Cabinet Committee on Economic Affairs (CCEA).

Italian tips for Cals Haldia project
03-04-2011, New Delhi

Italy's Saipem will prepare the feasibility report for Cals Refineries' proposed facility in Haldia.

Cals Refineries to get Kuwaiti funding
26-11-2010, New Delhi

Kharafi Group will invest $150 million in a 100,000 barrels per day (bpd) coastal refinery being built by Cals Refineries Ltd , the Indian company said on Friday, the first such investment by a Kuwaiti firm

Cash prop for Haldia project
26-11-2010, Calcutta

Kuwait's Kharafi Group has stepped in to save Bengal's second refinery project from its financial problems

Cals Refineries signs MoU with BPCL for petro product off-take
19-06-2009, Kolkata

Spice Energy Group company Cals Refineries and Bharat Petroleum Corporation (BPCL), a Navaratna PSU, have signed a memorandum of understanding (MoU) for off-take of petroleum products from Cals.

Environmental nod for Cals Refineries
28-05-2009, Kolkata

Cals Refineries, a part of the Spice Energy Group of industries, has received environmental clearance from the Union Ministry of Environment and Forests for its project in Haldia, West Bengal.

State delegates in team to Japan
19-03-2009, Kolkata

West Bengal has been invited by the Centre to be part of a delegation to Japan to attract investments for the three petrochemical, chemical and petroleum investment regions coming up in the country

Cals Refineries has ambitious plans
11-07-2008, 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

BP in talks with Indian start-up to supply crude
25-03-2008, Mumbai

Oil major BP Plc (BP.L) is in talks with Indian start-up CALS Refineries Ltd (CALS.BO) to supply crude oil and buy petroleum products, officials at the two firms said on Tuesday.

BP to Spice up refinery
24-03-2008, New Delhi

BP will enter into a strategic agreement to supply crude oil to Spice Energy for the 5-million-tonne refinery at Haldia being set up by CALS Refineries.

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Company Information
The company is in the process of establishing a 200,000 BPSD (10 MMTPA) refinery at Haldia, West Bengal, India.






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Milestones
  • 06-06-2011: FIPB recommends Cals Proposal for FDI worth Rs 1425 crore for CCEA Consideration in their meeting held on 20th May 2011
  • 15-03-2011: Signed Agreement with Hardt Group, Austria for Purchase of CENCO and ATAS Refineries and Equity Investment
  • 31-03-2010: Entered into tri-partite agreement with Haldia Development Authority and West Bengal Industrial Development Corporation (WBIDC), wherein WBIDC took over the land allotted to the Company and agreed to sub-lease the land to the company on compliance of certain terms and conditions
  • 17-06-2009: Cals Refineries signs MoU signed with Bharat Petroleum Corporation (BPCL) for off-take of all products other than those required to be supplied to BP.
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Latest Developments
  • 03-Apr-12, The Managing Director of the Company has attended the hearing pursuant to the summons issued by SEBI and replied to the queries raised by them.
  • 20-Jan-12, The Company has furnished further information about the project and GDR issue to SEBI in response to their Summons dated 12-Jan-12 received on 17-Jan-12.
  • 03-Jan-12, The Company has made a request to SEBI for a reconsideration of its Order dated Dec 30, 2011 and allow it to proceed with issue of GDRs to HARDT group. If the request cannot be accepted the company has requested SEBI for an early completion of investigation of the case and issue of final Order.
  • 11-Nov-11, Following the Personal Hearing held on November 8, 2011, the Company has submitted to the Hon'ble Member, SEBI, a written submission along with all the supporting which were cited during the hearing. Prayed for an immediate dropping of the interim order against the Company and also lifting of the restriction on issuing of further equity.
  • The Company attended the Personal Hearing before the Honourable Member on November 8, 2011 and reiterated its submissions and refuted the allegations made in the SEBI order dated September 21, 2011.
  • SEBI vide its order dated September 21, 2011 has restrained the Company from proceeding with any Equity issue including any instrument convertible into Equity shares. The Company has appealed against the said order of SEBI and has been accorded a personal hearing on November 8, 2011.
  • Hardt Group is helping the Company by negotiating an EPC contract for implementation of the project. However, pursuant to the SEBI order, the EPC contract will get finalized only after a clarity emerges on issuance of further equity.