Nagarjuna Oil Corporation Limited is aiming to ready its petroleum refinery project in northeastern Tamil Nadu by this year end, with an additional investment of INR 12,000 crore.

Industries minister S P Velumani said that NOCL, along with Tamil Nadu Industrial Development Corporation, is setting up the INR 7,160 crore project with an annual capacity of six million tonnes at Thiruchopuram in Cuddalore district.

He told the state Assembly that an additional investment of INR 2,500 crore is being made in key infrastructure facilities such as captive port, tankages and a captive power plant by NOCL’s associates.

NOCL has also commenced preliminary engineering work for expanding its refining capacity to 15 million tonnes per annum with an additional investment of about INR 12,000 crore. This expansion will be completed by 2015.

Mr Velumani added that the construction period will generate employment for about 5,000 persons. It will double once the refinery goes into full operation.

Thiruchopuram a captive port of the refinery project will be developed as an all-weather deep-sea port to handle the crude oil, petroleum fuel, coal for Tamilnadu Electricity Board and other cargo.

(Sourced from BS)