CPCL chairman Sanjiv Singh informed shareholders that the company endeavours to conceive, develop and implement projects towards achieving growth.
Chennai Petroleum Corporation (CPCL), an Indian Oil group company, said the projects at its Rs 1,858-crore BS VI auto fuel quality unit are expected to be completed during September-December 2019. To comply with the directive of the Centre for supply of diesel and petrol meeting BS VI quality norms with effect from April 1, 2020, CPCL is revamping the existing diesel hydro-treating (DHDT) unit to increase its capacity from 1.8 to 2.4 million tonne per annum (MTPA) along with a new sulphur recovery unit and installing a new 0.6 MTPA gasoline desulphurisation unit with associated facilities.
CPCL chairman Sanjiv Singh informed shareholders that the company endeavours to conceive, develop and implement projects towards achieving growth. It has achieved plan and non-plan expenditure of Rs 1,165.05 crore and Rs 148.55 crore respectively, totalling Rs 1,313.60 crore during FY19.
The company’s turnover registered an increase of about 18% at Rs 52,177 crore as compared to Rs 44,135 crore in the previous year on account of increase in both the quantity of products sold and price variation, Singh wrote in the company’s annual report 2018-19.
The detailed feasibility report (DFR) for the proposed 9 MTPA refinery project at Cauvery Basin Complex, Nagapattinam, has been completed and actions to obtain investment approval for the project have been initiated. The project will include a polypropylene unit apart from the refinery complex. As a preparatory step, it was decided to progressively cease operations at the refinery from April 1, 2019.
The company had signed an MOU with the Tamil Nadu government for availing a structured package of incentives announced at the Tamil Nadu Global Investors Meet in January. Approval for additional land acquisition has been obtained from Tamil Nadu and Puducherry governments.
CPCL achieved a throughput of 10.695 MTPA in 2018-19 as compared to 10.789 MTPA in the previous year. The distillates yield was the highest ever at 74.4% as against the previous best of 73.2% in 2017-18. The energy intensity index (EII) recorded the lowest at 100.4 against the previous lowest of 100.7 in 2017-18. The specific energy consumption was the lowest at 83.7 against the previous lowest of 89.4 in 2017-18. The operational availability during the year was 96.6% against MoU target of 97%, he said.
The production of diesel was the highest at 4,841 thousand tonne (TT) in 2018-19 as against the previous best of 4,599 TT in 2017-18. Hexane production was also the highest at 14.9 TT as against the previous best of 12 TT in 2012-13. During the year, Manali Refinery achieved a crude oil throughput of 10,271 TT as compared to the previous year’s figure of 10,289 TT, he added.