NOCL to set up captive port in TN

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

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

“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,” said the minister.

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

L&T Shipbuilding Ltd, a joint venture between Tidco and L&T, is setting up a Rs 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.