BUDGET 2000
SPECIALS
INTERVIEWS
COMMENTARY
GOVT&ECONOMY
Y2K: BIZ FEATURES
INDIA & THE WTO
CREDIT POLICY
BIZ IN THE USA
CARS & MOBIKES
MANAGEMENT
CASE STUDY
BIZ-QUIZ
USEFUL INFO
ARCHIVES
NEWSLINKS
SEARCH REDIFF

Cochin Refineries plans Rs 43-billion expansion

A detailed feasibility report on the project had already been submitted to the Union government for final investment clearance, according to CRL.

The public sector Cochin Refineries Limited, or CRL, proposes to undertake a Rs 43.20-billion expansion programme to raise its refining capacity from the present 7.5 million tonnes to 13.5 million tonnes per annum.

A detailed feasibility report on the project had already been submitted to the Union government for final investment clearance, according to CRL.

The refinery officials said that the Union Ministry of Environment and Forests had already given clearance for the project to be located near the CRL at Ambalamugal.

The site, identified for the project, has also been cleared by the public hearing committee, which was constituted by the Kerala government.

With the completion of the proposed expansion project, CRL would become a world-class refinery with built-in advantages of the economy of scale, state-of-the-art technology, high production of distillates and improved quality of products.

The technology and plant configuration would also enable CRL to save capital expenditure, which would otherwise be required for the quality improvement of residual products like furnace oil.

The expansion project that could be implemented within 36 months would reduce the shortage of petroleum products in South India and would contribute substantially to the exchequer.

It would provide direct employment to 500 people. Besides, it will also generate a lot of indirect employment opportunities.

UNI

Business