Tamilnadu Petroproducts Ltd Revises Project Cost for LAB and HCD Plant Expansion

Tamilnadu Petroproducts Ltd has announced a revision in the project cost for the expansion of its LAB and HCD plants. The LAB plant's project cost has been revised from X 310 Crore to X 365 Crore, while the HCD plant's project cost has been revised from X 214 Crore to X 237 Crore. The revision is due to escalation in cost including foreign exchange fluctuations and other incidental factors. The company also plans to set up 2 downstream units in the HCD Plant at an estimated cost of X 90 Crore. These units are expected to be completed within 18 months upon receipt of regulatory and other requisite approvals. The funding for these projects will be met from internal accruals and borrowings based on the business conditions at the time of implementation.