Chennai Petroleum Corporation Ltd (CPCL), a subsidiary of Indian Oil Corporation Ltd, will incur a capital expenditure of Rs. 1,000 crore for 2018-19 to support various ongoing projects.
�CPCL is implementing a number of projects to improve reliability, profitability and meet BS VI product quality specification,� said S N Pandey, Managing Director, CPCL.

In all, the total cost of those projects that are under implementation is estimated at Rs. 2,540 crore.

The new crude oil pipeline project is expected to be mechanically completed by July, the BS-VI project during 2019-20 and the RLNG (re-gasified liquefied natural gas) project will be completed in phases from November 2018 onwards.

The CPCL board has given its in-principle approval for the proposed 9 million tonnes refinery at Cauvery Basin, Nagapattinam, in Tamil Nadu, at a cost of Rs. 27,450 crore. Preparation of Detailed Feasibility Report is on and is expected to be completed by March 2019.

�The project cost could be plus or minus 30 per cent. CPCL might go to the market to raise funds for the new refinery. About 90 per cent of the required land is already available with the company,� said Sanjiv Singh, Chairman, Indian Oil Corporation.

For the year ended March 2018, CPCL reported a 11 per cent drop in net profit at Rs. 913 crore compared with Rs. 1,029 crore as the tax incidence of the previous year included the effect of balance unabsorbed depreciation.

Revenue from operations was Rs. 44,188 crore against Rs. 46,608 crore, registering a growth of nine per cent.

In 2017-18, CPCL achieved highest-ever crude throughput of 10.789 mtpa.

The board has recommended a final dividend of Rs. 18.5 per equity share (185 per cent on the paid-up equity share capital) for the year.

here is company details.

 

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