CPCL seeks govt. nod for Rs 36,400-cr Cauvery Basin Refinery Project Chennai Petroleum Corporation (CPCL) has sought government approval for its Rs 36,400-crore Cauvery Basin Refinery Project in Nagapattinam, Tamil Nadu.

CPCL Managing Director H Shankar said the company has acquired about 1,300 acres for the proposed nine million tonne per annum (MTPA) refinery. The earlier refinery in Nagapattinam, operational since 1992, had a capacity of just 0.5 MTPA and was shut down in 2019 due to stagnant production. The idea of a larger refinery was part of the original plan, and the government granted final approval for the new facility in 2021. Land acquisition began in 2023.

The project's initial cost of Rs 29,361 crore was revised to Rs 33,023 crore in March 2024 by Indian Oil Corporation (IOCL), CPCL’s parent company. Ownership structure has also been revised: IndianOil will now hold 75 percent and CPCL 25 percent, replacing the earlier joint venture plan involving a third-party investor. CPCL is evaluating new configuration styles before resubmitting for final approvals.