In order to provide intrinsically safe storage, CPCL – an Indian Oil group company has constructed Mounded Bullet storage facilities for LPG, Propane and Petrochemical Feedstocks (Propylene & Butylene) at a cost of Rs.279 Crore. These facilities were inaugurated by The Union Minister of State for Petroleum and Natural Gas, Dharmendra Pradhan as part of the company’s Golden Jubilee celebrations.
CPCL has build a total of 12 Mounded bullet storage facilities at its Manali refinery.
Currently the LPG, Propylene and Propane are stored in Horton Spheres and Butylene is stored in above ground bullets. As a risk reduction measure & also to provide intrinsically passive and safe environment and to eliminate BLEVE (Boiling Liquid Expanding Vapor Explosion) of LPG and petrochemical products, mounded bullet storage facility has been built at an outlay of Ts 279 crore.
The project was mechanically completed in March 2015. Pradhan applauded the role of CPCL in transforming Manali area into a petrochemical hub and stressed the need for sustained growth in the future.
CPCL, formerly Madras Refineries Limited, formed on December 30, 1965, is a group company of IndianOil, and has refineries in Manali near Chennai and Panangudi near Nagapattinam, which cater to the energy needs of Tamil Nadu and parts of the neighbouring States. Beginning as a 2.5 million tonnes per annum refinery, CPCL has over the past five decades expanded into an integrated 11.5 million tonnes per annum refining company.
About CPCL: Chennai Petroleum Corporation Limited (CPCL), formerly known as Madras Refineries Limited (MRL) was formed as a joint venture in 1965 between the Government of India (GOI), AMOCO and National Iranian Oil Company (NIOC) having a share holding in the ratio 74%: 13%: 13% respectively. Originally ,CPCL Refinery was set up with an installed capacity of 2.5 Million Tonnes Per Annum (MMTPA) in a record time of 27 months at a cost of Rs. 43 crore without any time or cost over run.
In 1985, AMOCO disinvested in favour of GOI and the shareholding percentage of GOI and NIOC stood revised at 84.62% and 15.38% respectively. Later GOI disinvested 16.92% of the paid up capital in favor of Unit Trust of India, Mutual Funds, Insurance Companies and Banks on 19th May 1992, thereby reducing its holding to 67.7 %. The public issue of CPCL shares at a premium of Rs. 70 (Rs. 90 to FIIs) in 1994 was over subscribed to an extent of 38 times and added a large shareholder base.
As a part of the restructuring steps taken up by the Government of India, IndianOil acquired equity from GOI in 2000-01. In July 2003, NIOC transferred their entire shareholding to Naftiran Intertrade Company Limited, an affiliate, in line with the Formation Agreement, as part of their organizational restructuring. Currently IOC holds 51.89% while NICO holds 15.40%.
CPCL has two refineries with a combined refining capacity of 11.5 Million Tonnes Per Annum (MMTPA). The Manali Refinery has a capacity of 10.5 MMTPA and is one of the most complex refineries in India with Fuel, Lube, Wax and Petrochemical feedstocks production facilities. CPCL’s second refinery is located at Cauvery Basin at Nagapattinam. This unit was set up in Nagapattinam with a capacity of 0.5 MMTPA in 1993 and later enhanced to 1.0 MMTPA.
The main products of the company are LPG, Motor Spirit, Superior Kerosene, Aviation Turbine Fuel, High Speed Diesel, Naphtha, Bitumen, Lube Base Stocks, Paraffin Wax, Fuel Oil, Hexane and Petrochemical feed stocks. The Wax Plant at CPCL has an installed capacity of 30,000 tonnes per annum, which is designed to produce paraffin wax for manufacture of candle wax, waterproof formulations and match wax. A Propylene Plant with a capacity of 17,000 tonnes per annum was commissioned in 1988 to supply petrochemical feedstock to neighbouring downstream industries. The unit was revamped to enhance the propylene production capacity to 30,000 tonnes per annum in 2004. CPCL also supplies LABFS to a downstream unit for manufacture of Liner Alkyl Benzene.
The crude throughput for the year 2014-2015 was 10.782 million metric tonnes (MMT). The company’s turnover for the year 2014-15 was Rs 47,877.82 crores and the Profit after Tax was (Rs.38.99 crores).
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