Serving Society Through Industry
News

Nagarjunas to set up refinery in Cuddalore

Chennai: The Times of India, July 3, 2008
 

Nagarjuna Oil Corporation, a subsidiary of Hyderabad-based Nagarjuna Fertilizers and Chemicals, is setting up a 6 million metric tonnes per annum (MMTPA) petroleum refinery at Cuddalore at an estimated cost of Rs 4,790 crore. <<< more (click)

 

NOCL refinery in TN

Chennai: Deccan Chronicle, July 3, 2008
 

Nagarjuna Oil Corporation Ltd, a subsidiary of Nagarjuna Fertilisers and Chemicals Ltd, is setting up a six million ton oil refinery project at Cuddalore in Tamil nadu. <<< more (click)

 

Nagarjuna to set up refinery in Cuddalore

Chennai: The New Indian Express, July 3, 2008
 

Nagarjuna Oil Corporation, a subsidiary of Nagarjuna Fertilisers and Chemicals Ltd, is setting up a 6 MMTPA petroleum refinery at Cuddalore in Tamil nadu. The refinery is being set up with an investment of Rs 4,790 crore. <<< more (click)

 

Nagarjuna’s Cuddalore refinery project chugs along
Firm setting up six million tonne per annum petroleum refinery, project to be commissioned by mid-2011

Chennai: The Economic Times, July 3, 2008
 

Nagarjuna Group is fully geared to implement the long-pending refinery project at port town Cuddalore in Tamil Nadu having obtained all approvals. It has achieved financial closure for the Rs 4,790 crore petroleum refinery and completed acquisition of the 1,600-acre for the project. Tamil Nadu chief minister M Karunanidhi laid the foundation stone for the refinery project in Chennai on Wednesday in the presence of Nagarjuna Group Chairman K S Raju and other top officials. <<< more (click)

 

Nagarjuna Oil’s Cuddalore refinery project achieves financial closure
Refinery likely to be commissioned by mid-2011

Chennai: Business Line, July 3, 2008
 

Nagarjuna Oil Corporation today announced that it had completed financial closure for its Rs 4,790-crore, 6-million-tonne petroleum refinery at Cuddalore, Tamil Nadu. Work on the project has begun and the refinery is expected to be commissioned by mid-2011.
<<< more (click)

 
 

Nagarjuna’s Cuddalore refinery project work takes off

Chennai: Financial Express, July 3, 2008
 

Foundation stones for three major projects involving investment of Rs 7290-crore in Cuddalore, including the Rs 4790-crore refinery project of Nagarjuna Oil Corporation Ltd, a subsidiary of Nagarjuna Fertilisers and Chemicals Ltd, Rs 1500-crore Thiruchopuram port project and Rs 1000-crore shipyard project of Good Earth Ltd, were unveiled by the Tamil Nadu Chief Minister M Karunanidhi on Wednesday. <<< more (click)

 
 

Tamil Nadu bags biggest private sector investment

Chennai: Financial Chronicle, July 3, 2008
 

In what may be termed as the single largest private sector investment in Tamil Nadu, Hyderabad-based Nagarjuna Group is investing Rs 4,790 crore in establishing a six million tonne petroleum refinery (1,25,000 barrels per day) in Cuddalore, 200 km south of Chennai. <<< more (click)

 
 
Nagarjuna Fertilizers
Chennai: Murasoli, July 3, 2008. <<< more (click)
 
 
Nagarjuna Fertilizers
Chennai: Dinathanthi, July 3, 2008. <<< more (click)
 
 
Nagarjuna Fertilizers
Chennai: Murasoli, July 3, 2008. <<< more (click)
 
 

Tata Sons increases stake in Nagarjuna refinery project

Chennai: Business Line, March 22, 2008
 

Tata Sons has increased its stake in the 6-million-tonne refinery being set up by the Nagarjuna Group at Cuddalore in Tamil Nadu. With this, there has been a slight change in the equity holding pattern. Against a 26 per cent stake earlier, Tata Sons Ltd will now hold a 30 per cent stake in the Rs 1,372-crore equity of the company. The other stakeholders are: Nagarjuna group with 51 per cent; Tamil Nadu Industrial Development Corporation Ltd, a State Government undertaking, with 5 per cent; Uhde GmbH of Germany, the technical collaborator, with 4 per cent; and Suntera Resources Ltd’s 10 per cent. Earlier, Exim Bank had a 1 per cent stake and Uhde 7 per cent.  <<< more (click)

 

Tatas purchase 26% stake in Nagarjuna Oil for Rs 350 cr

Hyderabad: The Financial Express, August 30, 2007
 

The Nagarjuna Group has finally found a partner in Tata Sons Ltd for its Rs 4,700 crore oil refinery project in Cuddalore in Tamil Nadu. The total investment by the Tatas is expected to be around Rs 350 crore. Both the companies have signed an investor agreement recently.

According to the agreement, the Tatas will take 26% stake in Nagarjuna Oil Corporation (the company, which is implementing the refinery project) while Nagarjuna Fertilizers and Chemicals (NFCL) will retain its 51% share, M Ramakanth, company secretary, NFCL said confirming the development.

The other partners in the project include Sunterra with 10% and the remaining 13% is shared between TIDCO, EXIM and Udhe, GmbH, of Germany, he added. The project has an equity base of Rs 1,400 crore. <<< more (click)

 

Nagarjuna Oil expects financial closure by December

Hyderabad: Mint, August 21, 2007
 

Nagarjuna Oil Corp. Ltd, a unit of Hyderabad’s Rs1,843 crore Nagarjuna Fertilizers and Chemicals Ltd (NFCL), expects to tie up finances for its refinery by the year-end, marking renewed progress in implementation of the project that was initially scheduled to go on stream in 2002. Having completed the equity tie-ups early this year for the 6 million tonne (mt) per annum project costing Rs3,625 crore, Nagarjuna Oil has recently given the debt syndication mandate to Industrial Development Bank of India Ltd (IDBI) and State Bank of India Ltd (SBI). The project, being set up at Cuddalore in Tamil Nadu, has Tata Sons Ltd with a 26% stake, the first time the Tata group is making a foray into refining. <<< more (click)

 
 
Nagarjuna Oil hopes for financial closure by Sept
Chennai: The Hindu Business Line, April 20, 2005
Nagarjuna Oil Corporation Ltd, whose 6-million-tonnes-a-year refinery project at Cuddalore in Tamil Nadu is seeing some progress. <<< more (click)
 
 
 
Central Electricity Regulatory Commission
Press Release


CERC nod for 1015 MW Nagarjuna Power Project
October 28, 2005

Central Electricity Regulatory Commission (CERC) has accorded "in principle" approval to the capital cost of 1015 MW coal based thermal power project. <<< more (click)
 
NPCL to utilise fly ash from Padubidri plant
Business Line, 13.6.2005
The Nagarjuna Power Corporation Ltd (NPCL), which is planning to set up a 1,015-mw thermal power plant at Padubidri in Udupi district. <<< more (click)
PFC Loan for Nagarjuna's Udupi Thermal Project
Bangalore, April 1, 2005
The public sector Power Finance Corporation (PFC) has agreed to provide a term loan of Rs.750 crores to Nagarjuna Power. <<< more (click)
Foreign cos offer to supply coal on fixed-price basis
(Hindu Business Line - 15.3.05) Bangalore.
A clutch of foreign companies have begun offering fixed price supplies of coal to domestic power projects. <<< more (click)
Foreign cos offer to supply coal on fixed-price basis
(Hindu Business Line - 15.3.05) Bangalore.
A clutch of foreign companies have begun offering fixed price supplies of coal to domestic power projects. <<<  more (click)
PFC board okays debt package for Nagarjuna Power's Mangalore project
(Hindu Business Line - 10.3.2005) Bangalore.
THE board of the Power Finance Corporation has cleared the debt-financing package for the 1,015-MW power project. <<<  more (click)
Offtake of electricity by trading companies - FIs to chalk out payment security model for funding power projects
(Hindu Business Line - 7.2.2005) New Delhi.
With over 10 major power projects in the pipeline planning to sell their generation to power traders, domestic financial institutions. <<< more (click)