Chennai Petroleum chalks out annual capex plan of around Rs 800 crore
Government-owned Chennai Petroleum Corporation Ltd. (CPCL) has plans to invest around Rs 700-800 crore annually over the next 2 years. The firm has doubled its usual spend to support a high-return project focused on upgrading lube oil base stocks (LOBS).
As per the firm, Rs 250–300 crore is marked for routine maintenance and smaller projects, while the remaining Rs 400–500 crore is earmarked for the LOBS 2 and 3 upgrade programme. Group II/III LOBS project, now in an advanced stage of planning and aims to convert naphtha and high-speed diesel (HSD) into higher-value lube base oils.
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