IndianOil rethinks on Greenfield refinery plan in TN
New Delhi   16-May-2008
<b>Project only on long-term horizon: Behuria</b> IndianOil 15-million tonne Greenfield refinery at Ennore near Chennai would have been the single largest investment that the state of Tamil Nadu might see. At today's costs, the project would cost $ 12 billion (Rs 40,000 crore). However, going by the indications thrown by Mr Sarthak Behuria, Chairman and Managing Director of IndianOil, at a press conference here today, the project may never come up. <b>Status of project</b> Asked about the status of the project, Mr Behuria noted that there was already surplus refining capacity in the country and that many other companies had announced huge refineries. He stressed that the project was only on the long-term horizon and would not be taken up in the Eleventh plan period (2007-2012). The project has been talked about for close to three years now. A press release from IndianOil's subsidiary, Chennai Petroleum Corporation, says that joint surveys with the Tamil Nadu government "have led to identification of 3,300 acres of 'lands for the project." "Prior to acquisition of this land, we are pursuing with Ministry of Environment and Forests and Tamil Nadu Pollution Control Board regarding the acceptability of the identified location from the environment angle," the release says. Sources in the state government say that that much of land is not available at Ennore. It is understood that the government has asked IndianOil to look at a site near Cuddalore.