Chennai Petroleum Corporation has received approval for formation of a Joint Venture Company amongst Chennai Petroleum Corporation, Indian Oil Corporation and Other Seed Equity Investors viz., Axis Bank, HDFC Life Insurance Company, ICICI Bank, ICICI Prudential Life Insurance Company and SBI Life Insurance Company for Implementing the 9 MMTPA Refinery Project at Cauvery Basin Refinery, Nagapattinam District, at an estimated cost of Rs 31,580 crore.
Further, the Board of Directors of the company has also accorded approval for equity investment of upto Rs 2570 crore (+/-10%) in the Joint Venture, towards the company’s contribution of 25%.
Chennai Petroleum Corporation is in the business of refining crude oil to produce & supply various petroleum products.
| Company Name | CMP |
|---|---|
| Reliance Industries | 1309.35 |
| Indian Oil Corp. | 143.45 |
| BPCL | 306.40 |
| HPCL | 392.05 |
| MRPL | 154.10 |
| View more.. | |
MoneyWorks4Me is a SEBI-registered Investment Adviser (IA) dedicated to helping investors build long-term wealth through transparent, research-driven, conflict-free guidance. Founded in 2008, we started our journey as a Research Analyst (RA), providing deep fundamental analysis, intrinsic value insights, and long-term investing frameworks for Indian equities. In 2017, we transitioned to a full-fledged SEBI-registered Investment Adviser, strengthening our commitment to acting as a fiduciary—always putting the investor’s interest first.
To become India’s most trusted, research-powered fiduciary advisory platform—where every investor, regardless of experience, can make calm, confident, and well-reasoned investment decisions.
MoneyWorks4Me ensures this through: