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Indian Oil Corporation's (IOC's) group company Chennai Petroleum Corporation Ltd (CPCL) is planning to set up a greenfield refinery at Nagapattinam at in Tamil Nadu, a cost of Rs 27,460 crore. The products, including motor spirit (MS) and high speed diesel (HSD), which will be produced from the refinery will help meet the latest BS-VI specification in the southern states.
The new refinery will be part of the Government of India's plan to set up a petroleum, chemicals and petrochemicals investment region (PCPIR) in this region.
The boards of CPCL and IOC have accorded in-principle approval for the 9 million
