IOCL to Develop 35,580 Cr. Refinery in Tamil Nadu, Investment Crosses 53,000 Cr. in the State
Indian Oil Corporation Ltd. (IOCL or IndianOil) will be developing a greenfield refinery in Tamil Nadu’s Nagapattinam at a total cost of about Rs. 35,580 crore. Further, multiple projects of IOCL are in various stages of development in Tamil Nadu, with their cumulative investment amount totalling Rs. 53,984 crore.
This information was shared by Mr. V.C. Asokan, IOCL’s Executive Director and State Head (TN & Puducherry), while speaking to PTI on 6th July 2023.
Indian Oil to Establish 9 MMTPA Greenfield Refinery at Nagapattinam
IndianOil will be establishing a 9 Million Metric Tonnes Per Annum (MMTPA) greenfield refinery at Nagapattinam. This refinery will sprawl over an area of about 1,300 acre and will produce BS-VI grade petrol and diesel.
Apart from these fuels, the Nagapattinam refinery will produce polypropylene, which is a key petrochemical resin used in plastic manufacturing.
World’s Second Largest Lube Complex Under Development near Chennai
IOCL is in the process of developing the world’s second-largest integrated lube complex at Amullaivoyal village in Manali, Chennai. This plant will have a capacity of 680 Thousand Metric Tonnes Per Annum (TMTPA). This facility is being developed at a cost of Rs. 1,398 crore and is expected to be commissioned in 2023.
Sprawling over 71 acre, this complex will produce eco-friendly lubricants, brake fluids, greases, Diesel Exhaust Fluid (DEF), coolants, white oil (pharmaceutical grade), and food-grade lubricants.
Product & Gas Pipelines being Laid, CGD Network Expansion and Modernisation Programme Under Progress
IOCL has an ongoing investment of Rs. 4,825 crore for laying of product and gas pipelines in Tamil Nadu. Out of this, Rs. 2,600 crore is for product pipelines, and Rs. 2,225 crore is for the laying of gas pipelines
Further, IndianOil is in the process of investing Rs. 7,570 in the development of its City Gas Distribution (CGD) network in Tamil Nadu.
Apart from this, IOCL is establishing new retail outlets and launching a modernisation programme with an investment of Rs. 2,500 crore in Tamil Nadu.
Captive Petroleum Jetty at Kamrajar Port Expected to be Commissioned in 2025, New Terminal at Vallur
IndianOil has set aside Rs. 921 crore to develop a captive petroleum jetty at Kamrajar port. This jetty will be instrumental in facilitating coastal movement of petroleum products by ships and is expected to be commissioned in 2025. The Kamarajar jetty will be connected to IOCL’s upcoming Vallur terminal, and will have a capacity to handle between 2 to 3 MMTPA of petroleum cargo.
IOCL’s Vallur Terminal will come up at an estimated cost of Rs. 724 crore and will be spread over 100 acre near Kamarajar Port. Expected to be commissioned in 2023, it will have a storage capacity of 2,00,000 KL and will be instrumental in supplying Petrol, Diesel, Kerosene and Aviation fuel to Chennai, Trichy, Madurai, Salem and Asanur (Villupuram). The Vallur terminal will also supply to Chittoor in Andhra Pradesh and Bengaluru.
Further, Mr. V.C. Asokan stated that IOCL had invested about Rs. 466 crore in its Asanur terminal. He continued, “For Indian Oil, Tamil Nadu is an important market and we are constantly investing in the state to improve the infrastructure and product offerings as well as our services”.