ExxonMobil on Thursday announced a $20million investment in its Altona refinery to expand fuel production by nearly 13 per cent.
The refinery processes up to 13 million litres of crude oil a day into petrol, diesel, aviation fuel and LPG.
The upgrade to the refinery’s crude unit will enable production to grow from 80,000 barrels a day to 90,000 barrels.
Project construction will start in May and is expected to be completed in 2017.
The upgrade will create 50 jobs during construction.
Andrew Warrell, Exxon’s refining manager for Australia and New Zealand, said the production growth would reverse the cuts that were made when the refinery was struggling to survive a decade ago.
“What makes this significant is, it’s the first time we have grown our crude processing capacity since 2005,” he said.
“Back in 2005 we went through a pretty tough and confronting time as a business.
“We actually shrank in order to survive, so how exciting it is for everyone who works here to be back in a phase of renewal and growth.”
The $20 million expenditure is part of more than $370 million invested at the site over the past five years.
‘Great news’
Minister for Industry, Energy and Resources, Lily D’Ambrosio, said the investment was great news for the state.
“This investment in the Altona plant is another vote of confidence for Victoria’s reputation as a hub for business investment and our strong AAA-rated economy,” she said.
“Improvements in infrastructure and energy efficiency will further drive the plant’s economic benefits and contributions to the state, which is great news for Victorian jobs and workers.”
– with Peter Ker/ Sydney Morning Herald
