Nagarjuna Oil Corporation Limited (NOCL) is aiming to ready its petroleum refinery project in northeastern Tamil Nadu by this year-end, with an additional investment of Rs 12,000 crore.
NOCL, along with Tamil Nadu Industrial Development Corporation, is setting up the Rs 7,160-crore project with an annual capacity of six million tonnes at Thiruchopuram in Cuddalore district, industries minister S P Velumani said today.
An additional investment of Rs 2,500 crore is being made in key infrastructure facilities such as captive port, tankages and a captive power plant by NOCL’s associates, he told the state Assembly.
NOCL has also commenced preliminary engineering work for expanding its refining capacity to 15 million tonnes per annum with an additional investment of about Rs 12,000 crore. This expansion will be completed by 2015.
The construction period will generate employment for about 5,000 persons. It will double once the refinery goes into full operation, Velumani added.
Thiruchopuram, a captive port of the refinery project, will be developed as an all-weather deep-sea port to handle the crude oil, petroleum fuel, coal for Tamilnadu Electricity Board and other cargo.
Besides Cuddalore, this port will boos industry and trade in the districts of Villupuram, Thiruvannamalai, Salem, Namakkal, Karur, Perambalur and Ariyalur, the minister added.
