Indian Oil draws up plans for a refinery in Tamil Nadu, set to cost over Rs 30,000 crore

The refinery will be set up on the 618-acre land already owned by Chennai Petroleum Corp (CPCL) in Nagapattinam, Indian Oil Chairman S M Vaidya said. The refinery will be developed by a joint venture in which Indian Oil and CPCL will own 25% equity each while the balance 50% stake will be given away to strategic and financial investors, Indian Oil finance chief Sandeep Gupta said.

from Energy-Industry-Economic Times https://ift.tt/2YspKd7