Chennai Petroleum plans Rs 5000cr revamp

Chennai Petroleum Corporation (CPCL) plans to invest Rs 5,000 crore for revamping its Chennai refinery to enhance the quality of manufactured petroleum products.

According to D Selvaraj, general manager, maintenance, CPCL, the revamping will be completed by 2009 and CPCL will bear the entire cost of the project.

The company is also planning to supply Euro4 quality petrol in the next one or two years.

CPCL also intends to set up a 15-million tonne per year capacity refinery at Ennore and has approached the state government for 3,000 acre of land.

"We are in the process of acquiring the land. The new refinery would be sophisticated, one that would be able to supply higher-end products," Selvaraj said.