Union Petroleum Minister Dharmendra Pradhan today formally launched the Rs 3,110 crore residue upgradation project of Indian Oil Group company, Chennai Petroleum Corporation Ltd, here.
The city-based company embarked on a value addition at the Manali Refinery near city, for upgradation of residue to high value liquids such as diesel, Naphtha and LPG through delayed coking process at an investment of Rs 3,110 crore.
According to company officials, the project would reduce production of fuel oil and increase percentage of high sulphur crude oil processing in crude mix, which would result in lesser feed cost.
Union Minister of Petroleum and Natural Gas, Minister of Skill Development and Entrepreneurship, Dharmendra Pradhan formally dedicated the residue upgradation project to the nation at a function here.
Chennai Petroleum Corporation has refineries at Manali near Chennai, Panangudi near Nagapattinam with an integrated refining capacity of 11.5 million metric tonne per annum.
The facilities play an active role in the industrial development of Tamil Nadu by supplying feed stocks to downstream industries.
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