Cals Refineries Annual Report

Cals refineries is in the process of setting up a petroleum refinery.
It has bought second hand refinery equipment in Germany and Canada and is in the
process of assembling it in Haldia, WestBengal. The location of the refinery on the East Coast would add $2 per barrel in Shipping costs.
Negligible profits at present, and money would start flowing only after 2010.
The board of directors looks impressive, but I'd like to wait till I get more information on this company. This could be a turnaround story.

I mailed the company requesting the annual report and received it promptly.
Nothing interesting in the Annual Report, but I am uploading it here for record.