Indian Oil Corporation, and its subsidiary, Chennai Petroleum Corporation, have planned to set up a 15 million tpa petroleum refinery and a petrochemical complex in Tamil Nadu, it is learnt through unconfirmed reports.

Coming at the proposed Ennore petrochemical complex, the project is estimated to cost Rs.33,000 crore. The project will be on the lines of the 15 million tpa refinery and petrochemical complex at Paradip in Orissa.

The project would be implemented through the SPV route with the possible induction of a third partner.

Shelved projects: Earlier, IOC and CPCL had planned to set up a 2.5 million tpa LNG regasification plant at the Ennore complex. The project was to support the Hinduja Group's proposed LNG-based power plant. Both the projects are unlikely to materialize.

Brownfield expansion: Meanwhile, CPCL has planned to invest Rs.300 crore in expanding its polypropylene production capacity from 30,000 tpa to 80,000 tpa. (Further details awaited.)