Financial Daily from THE HINDU group of publications
Thursday, Apr 21, 2005
Financial Daily from THE HINDU group of publications Thursday, Apr 21, 2005 |
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Corporate
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New Projects Naphtha cracker project revival hinges on revised schedule N. Ramakrishnan
Chennai, April 20 THE Tamil Nadu Government's move to revive the naphtha cracker project hinges on the revised schedule drawn up for the Nagarjuna Oil Corporation refinery project. According to reliable sources, it makes sense to locate the project in the vicinity of a refinery as marine infrastructure can be shared. The State Government had in 1999 signed an agreement with Mitsui of Japan for a naphtha cracker project, but there was not any progress on that. The Government has once again invited expression of interest for a 5,00,000-tonne-a-year ethylene capacity naphtha cracker facility and downstream petrochemicals and polymers complex. The cracker will require about 1.3 million tonnes of naphtha. The Nagarjuna refinery will produce about 5,60,000 tonnes of naphtha and the balance requirement can be sourced from either Chennai Petroleum Corporation or imported.
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