According to state highways & minor ports minister Mr Edappadi K Palaniswami, Nagarjuna Oil Corporation Ltd is planning to set up a captive port in Tamil Nadu to support its upcoming INR 7,160 crore petroleum refinery project at Thiruchopuram in Cuddalore district,.

The port will be a part of the company’s additional investment of INR 2,500 crore to build key infrastructure facilities. It will receive 6.5 million tonnes of crude oil and ship 2.8 million tonnes of refined petroleum products every year.

The minister said that “The request of the company to assign the development of its captive port to handle other commercial cargo in favour of one of their equity partners, Cuddalore Port Company Pvt Ltd, is under consideration of the government.”

NOCL has achieved financial closure for the refinery project. The 6 million tonne per annum refinery, being developed by NOCL along with the Tamil Nadu Industrial Development Corporation is likely to be ready by December. NOCL has also commenced preliminary engineering work for expanding the capacity to 15 million tonne per annum with an additional investment of INR 12,000 crore. The expansion will be completed by 2015.

L&T Shipbuilding Ltd, a joint venture between Tidco and L&T, is setting up INR 4,600 core shipyard-cum-port project at Kattupalli in Thiruvallur district. IL&FS Ltd is to develop a captive port for handling coal for its proposed 4,000 MW power Plant in Cuddalore district. Goodearth Shipbuilding Pvt Ltd plans to establish a captive shipbuilding yard in Cuddalore while PEL Power Ltd is setting up a jetty to handle coal for its 1,320 MW power Plant.

(Sourced from BS)