The new refinery will produce petrol and diesel of Bharat Stage-VI specifications, and polypropylene as a value-added product
Chennai Petroleum Corporation Ltd. (CPCL) has kick-started project activities for the construction of the 9 million metric tonne per annum (MMTPA) refinery in Nagapattinam, at an estimated investment of ₹31,580 crore. The project, which would have a petrochemical complex, is planned to be completed in 45 months.
Chief Minister M. K. Stalin recently handed over the government order (G.O.) for acquisition of 606 acres of land adjoining the existing refinery site at Nagapattinam to the Indian Oil Corporation Ltd. (IOCL) chairman, S.M. Vaidya, in the presence of CPCL managing director, Arvind Kumar.
Following this, CPCL has awarded contracts amounting to ₹1,538 crore to project management consultants Engineers India Limited (EIL), McDermott and Tata Consulting Engineers (TCE).
This new refinery will produce petrol and diesel of Bharat Stage-VI specifications and polypropylene as a value-added product, at a cost of ₹31,580 crore. Further investment of about ₹4,000 crore would flow into the project from other stakeholders on ‘build, own and operate’ basis. The project would be implemented as a joint venture with IOCL, whose group company CPCL is. The foundation stone for the project was laid by Prime Minister Narendra Modi on February 17, 2021.
Source: Read Full Article