 "Indian Oil")
State-run Indian Oil Corporation (IOC) plans to come up with a 15-million-tonne (mt) refinery, with an investment of about Rs 40,000 crore, at Nagapattinam in Tamil Nadu.
Currently, Nagapattinam has a 1-mt plant operated by Chennai Petroleum Corporation (CPCL), an IOC subsidiary.
“We are planning to expand the 1-mt plant to 9 mt during the first phase, and will later expand it to a 15-mt mega refinery,” said an official source close to the development.
National Iranian Oil Company (NIOC) has a 15.4 per cent stake in CPCL, which runs two refineries — 10.5-mt Manali plant in Chennai and Nagapattinam refinery in
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