Investment31 May 2025, 04:01 am
IOCL Approves Rs. 1,620 Crore Investment Proposal by CPCL for Group-II/III LOBS Production
AI Summary
Chennai Petroleum Corporation Ltd (CPCL) has received approval from its holding company, Indian Oil Corporation Ltd (IOCL), for an investment proposal to produce Group-II/III Lube Oil Base Stock (LOBS). The project is estimated to cost Rs. 1,620 Crore. This decision was made based on the recommendation of CPCL's Board at its meeting on 18.01.2025 and was approved by IOCL's Board on 30.05.2025.
Key Highlights
- CPCL received approval for a Rs. 1,620 Crore investment proposal from its holding company, IOCL.
- The investment is for the production of Group-II/III LOBS.
- The decision was made based on CPCL's Board recommendation on 18.01.2025.
- IOCL's Board approved the proposal on 30.05.2025.