| Chennai Petroleum Corporation Ltd (CPCL) is expected to receive process configuration and pre-feasibility study reports by Engineers India Ltd for its proposed Rs 45,000-crore 15 MMTPA (million metric tonnes per annum) grassroot refinery-cum-petrochemical complex project at Ennore near Chennai this month.
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| This is even as the company plans to work closely with the state nodal agency for industrial development to find 3,000 acres of land for the proposed project.
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| Addressing a press conference along with S Behuria, chairman, Indian Oil Corporation, KK Acharya, managing director, CPCL, said the company had approached the state government for acquiring 3,000 acres of land near Ennore.
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| A committee has been formed headed by the Tidco (Tamil Nadu Industrial Development Corporation) chairman to identify land for the project.
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| Earlier, addressing the annual general meeting of CPCL, Behuria said it would take a few years to get a clear picture on the proposed grassroot refinery-cum-petrochemicals complex project.
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| While Indian Oil will participate with CPCL in this project, a separate special purpose vehicle may be formed to execute it, he added.
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| The project is expected to take 5-6 years for completion. The proposal to establish petrochemical complex along with refinery has been made considering the economic viability and huge demand for petrochemicals in the country.
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| The company had said that a strategic partner, which could be a multinational oil firm, would be roped in along with IOC and CPCL. |
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