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Chennai Petroleum’s Manali refinery expansion project gets environment clearance

08 Apr 2013 Evaluate

Chennai Petroleum Corporation (CPCL), a subsidiary of Indian Oil Corporation (IOC) has received environment clearance for its Rs 3,350-crore expansion project at the Manali refinery. The company will expand coker unit (2.2 million tonnes per annum) and a sulfur recovery unit at the Manali Refinery Complex under the said project.

The company is targeting to capitalize on the refinery margins at least by $1 a barrel. It will produce more high value distillates and enable the company to process more of the cheaper high-sulphurous crude.

Peers
Company Name CMP
Reliance Industries 1202.80
Indian Oil Corpn. 130.00
Bharat PetroleumCorp 294.00
HPCL 346.80
MRPL 173.90
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