Indian Oil Corporation Chairman B M Bansal today said their group company Chennai Petroleum Corporation is implementing Euro IV project at a total investment of Rs 2,615 crore.
The project is being implemented at the company's Manali refinery for meeting the auto-fuel quality specifications of motor speed and high speed diesel, Bansal said while addressing the shareholders at the 44th Annual General Meeting here today.
He said the construction of various process units in the project are in the advanced stage of completion.
Besides this project, the company had also proposed to implement a Residue Upgradation Project involving installation of a delayed coker unit and revamping of the existing hydro cracker unit to maximise the distillate yield of the refinery at an investment of over Rs 3,000 crore.
"This project is expected to be completed by end of 2013," he said.
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