Chennai Petroleum Corporation has planned Rs 1,392 crore capital expenditure in FY16. The company will invest the same on resident up-gradation project and laying crude oil pipeline.
The Resident Upgradation Project involves construction of major units like delayed coker unit, sulphur recovery unit and other utilities and offsite packages. This project is scheduled for mechanical completion by 2016.
On the proposed new crude oil pipeline, the company had undertaken work on replacing the existing pipeline as it was more than 45 years old. The new crude oil pipeline will be from Chennai Port Trust to Manali Refinery with state-of-the-art technology and safety features has been planned at an estimated cost of Rs 257.87 crore.
