Chennai: Chennai Petroleum Corporation Ltd, (CPCL), belonging to IndianOil Corporation Ltd, has begun work on a 9 MMTPA refinery and petrochemical complex being set up at an estimated investment of Rs 31,580 crore in Nagapattinam, Tamil Nadu, the company said on Wednesday.
Chief Minister M K Stalin early this month handed over a government order for the acquisition of 606-acre land adjoining the existing refinery site in Nagapattinam to IOCL Chairman SM Vaidya and CPCL Managing Director Arvind Kumar. Following the order, CPCL awarded the contracts worth Rs 1,538 crore to the project management consultants -- Engineers India Ltd, McDermott and Tata Consulting Engineers, a company statement said here. Top officials of CPCL during their visit to Nagapattinam met Parliamentarian M Selvaraj and explained in detail about the project stipulations and assured him that the project would be completed in the projected 45 months. A detailed presentation was also made to the district administration and appraised it of the significance of this project and the associated economic development in and around the regions of Nagapattinam, the statement said.
During the meeting with the three consultants Engineers India Ltd, McDermott and Tata Consulting Engineers, it was said the goal was to complete the project ahead of the scheduled time with 100 per cent compliance to safety, the release said. "Procurement and engineering activities for the project have already commenced and site activities will now gain momentum," the company said. The project would act as a catalyst for development of downstream petrochemical and ancillary industries, it added. Last year, a committee under the Ministry of Environment accorded green signal for the project in Cauvery Basin Refinery which would provide direct employment to 600 people and 1,000 indirect jobs during the operational phase of the refinery.