K Balachandran, director – operations, Chennai Petroleum Corporation Ltd (CPCL), will take over as company’s new managing director with effect from December 1, 2009. He will succeed KK Acharya, who is likely to join the Ministry of Petroleum and Gas, according to company sources.
Balachandran has been director of operations at CPCL since October 1, 2006. Prior to joining CPCL, he was general manager (technical services) at Gujarat Refinery of IOC.
CPCL, a subsidiary of IOC, is investing around Rs 7,000 crore in the next five years in expansion and connectivity projects. This includes a Rs 3,500 crore residue upgradation project.
