Release date: 28 July 2010
Promoter – Financial Intermediary
Chennai Petroleum Corporation Ltd. through the Export-Import Bank of India
Location
Description
The project concerns installation of new process units, including associated utilities and offsite facilities to produce motor spirit and high speed diesel fuels meeting the Euro IV equivalent specifications.
Objectives
The project would contribute to environmental protection by reduction in the usage of high sulphur diesel, thereby minimising sulfur dioxine emission from the consumers of motor spirits and diesel. It will also contribute to the economic development of the State of Tamil Nadu through the direct creation of 70 jobs and related indirect employment creation.
Sector(s)
Proposed EIB finance (Approximate amount)
EUR 35 million.
Total cost (Approximate amount)
EUR 460 million.
Environmental aspects
Motor vehicles are closely identified with increasing air pollution levels in urban centers in developing countries. Significant quantities of CO, HC, NOX, S, PM and other toxins are emitted from motor vehicles into the atmosphere, causing serious environmental and health impacts. The project will contribute to reducing tailpipe emissions and improving fuel economy of vehicles in India.
Procurement
The Bank will require the Promoter to ensure implementation of the project in compliance with the Bank’s Guide to Procurement.
Status
Under appraisal - 28/07/2010
Disclaimer
Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).