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Nagarjuna Oil Corporation limited (NOCL) is implementing a six million tonnes per annum refinery project at Cuddalore, a coastal town in Tamil Nadu, with a capital outlay of Rs.70 billions. The refinery will have integrated facilities like Captive power plant, dedicated water source, single point mooring for import of crude by very large container carriers (VLCC), and jetty and also facilities for product evacuation by road, rail and pipeline.

The project had achieved financial closure in 2008 and is currently in implementation stage. The completion date is scheduled for November 2011. NFCL is the promoter of the project which has also equity participation from the Tatas, Tamil Nadu Industrial Development Corporation and UHDE. The project is located in an area with large demand potential. NOCL has also a tie up with BP for export of its products and crude oil supplies. The company also has an agreement with Indian Oil Corporation for supply of its products for the domestic market. The company has plans to expand its refining capacity to 15 million tons as also downstream integration into Petrochemicals.

Petroleum