Cals Refineries Limited earlier known as CALS Limited was incorporated in 1984 under the name of Computer Aided Learning Systems Private limited. Earlier it was engaged in the business of developing bilingual computer systems. The company wound up its operations in this line of business and was acquired by the Spice Energy Group in October 2007, and its name subsequently changed to Cals Refineries Limited in December 2007,
The company’s ’s business strategy is to create an independent value-added integrated refining / petrochemical business with significant economies of scale and operational efficiency, producing world-class refining and petrochemical products with competitive domestic and international marketing strategy. It has plans to set up a total of 400,000 barrels per day (20 MMTPA) of oil refining capacity on India’s east coast in the State of West Bengal, in phases, thereby emerging as the third largest oil refining and petrochemical company in India.
The Company’s first project involves the relocation and re-erection of an existing German refinery, with an upgraded crude oil refining capacity of 100,000 bpd in Phase I, to Haldia in West Bengal. The Company plans to expand this capacity to 200,000 bpd in Phase II through the relocation of another refining unit from East Asia, and to then implement an additional 200,000 bpd of green-field capacity in Phase III.
The estimated total capital cost for the development the project is an average $1.1 billion. The targeted completion date for Phase I of the project is in fourth quarter of 2011.