IOC set to expand Chennai refinery in JV

02 Feb 2021 CW Team

Indian Oil Corporation (IOC) is set to expand through a joint venture with its subsidiary Chennai Petroleum Corporation Ltd (CPCL) and strategic financial investors, at a cost of Rs 31,500 crore, said Chairman Shrikant Madhav Vaidya.

IOC and CPCL will hold a 25% stake each in the joint venture that will set up the 9 million tonne per year refinery. The remaining 50% equity would be with financial investors, the Chairman told media sources.

CPCL also plans to build a 475,000 tonne per annum capacity petrochemical plant. A detailed feasibility report for the expansion project is underway.

Formerly known as Madras Refineries Ltd, CPCL was formed as a joint venture in 1965 between the Government of India, AMOCO, and the National Iranian Oil Corporation (NIOC) having a shareholding in the ratio of 74%, 13%, and 13% respectively.

As we have reported earlier, Indian Oil is also building a new oil terminal in Vallur, north of Chennai, along with a captive jetty based near Kamarajar (Ennore) port. The aim is primarily to handle its petroleum products.

Image Source: Facebook/ Chennai Petroleum Corporation Limited

4th Indian Cement Review Conference 2021

17-18 March

Click for event info

Make in Steel 2021

24 February

Click for event info

Infrastructure Transport

15 Oct 2025

BMC Gets CRZ Nod For Rs 40 Million Gorai Bridge Rebuild

The Brihanmumbai Municipal Corporation (BMC) has secured Coastal Regulation Zone (CRZ) clearance for the reconstruction of the Poisar River bridge in Gorai, located in Mumbai’s western suburbs. However, the proposed demolition of the existing 100-metre bridge has sparked opposition from local residents, who claim it serves as the only direct access route between the Lower and Upper Koliwada areas. The three-decade-old bridge, situated within the CRZ buffer zone, was recently declared structurally unsafe following a civic audit. The BMC has sanctioned its reconstruction at an estimated cost ..

NHAI Completes Rs 15.9 Billion Four-Lane Stretch On ECR

The National Highways Authority of India (NHAI) has completed the four-laning of the 38 km Puducherry–Poondiyankuppam stretch, ending near Cuddalore, in a development that will cut travel time by up to two hours, according to a report by The New Indian Express. The upgraded section, built at a cost of Rs 15.9 billion under the Bharatmala Pariyojana Phase I, marks a major milestone in the ongoing East Coast Road (ECR) widening programme. The project promises a smoother, faster drive for motorists travelling towards Cuddalore, Chidambaram, Sirkazhi, and Nagapattinam. With this completion, 22..

Encroachments Delay Rs 1 Billion Ghatkopar Bridge Project

The construction of a new cable-stayed rail overbridge at Ghatkopar and the widening of the Andheri–Ghatkopar Link Road (AGLR) have been delayed due to the presence of nearly 250 encroached structures on both sides of the road. In response, Municipal Commissioner Bhushan Gagrani has directed officials to carry out a structural audit of the existing bridge over the railway line and enforce temporary restrictions on heavy vehicles to ensure public safety. The bridge, which starts at the Golibar Road junction near LBS Marg and extends up to the Eastern Express Highway (EEH), serves as a critic..