15 million ton petrochemical complex at Ennore
The Chennai Petroleum Corporation Limited was mulling the idea of setting up a new 15 million tonne per annum petrochemical complex at Ennore, a top official of the company said today.KK Acharya, Managing Director, CPCL, while announcing the performance of the company here, said a process configuration study and prefeasibility study were underway in this regard."We have sought 3000 acres of land from the Tamil Nadu government," he said adding one third of funds required for the project would be generated by CPCL, Indian Oil Coprporation, a third party and the rest through loans. The project was expected to start by the end of 2008, he said.Further,the company had embarked on Rs 6000 crore worth projects in the coming years, including a Resid Upgradation Project at a cost of about Rs 3000 crore which was expected to be commissioned in 2010.Detailing CPCL's achievements in 2006-07, Acharya said annual turnover for the year had recorded a 16 percent increase, from Rs 25409 crore in 2005-06 to Rs 29349 crore in 2006-07. Profit Before Tax had also increased from Rs 481 crore last year to Rs 565 crore in 2006-07, he said.Among other achievements, the refinery had registered an increase in product exports, reaching 827 thousand tonne (TMT) in 2006-07 against the 641 TMT in the previous year. Exports were made to countries like Malaysia, China, Singapore and Bangladesh, Acharya said. Work had started for a dedicated Aviation Turbine Fuel (ATF) pipeline from the Manali refinery of CPCL to Chennai Airport. The culmination of the project will help direct pumping of the ATF from Manali to the airport, he added.The company had also achieved a record crude thruput of 10.40 million tonne (MMT) in 2006-07 against the 10.36 MMT achieved in 2005-06, Acharya pointed out.
