Ministry of Environment has shown a ‘green flag' to Chennai Petroleum Corporation Ltd.’s (CPCL) project of dismantling its 1 MMTPA Cauvery Basin Refinery to give way to set up a 9 million metric tonnes per annum in Nagapattinam district of Tamil Nadu. The project would be executed through a joint venture (JV), wherein IOCL and CPCL would jointly hold 50 per cent stake. The project would cost about INR 33,000 crore and would require a total area of 1338.29 acres for Cauvery Basin Refinery in Tamil Nadu and 6.33 acres in Karaikal region in Puducherry for Pipeline corridor. The refinery would provide direct employment to nearly 600 people and indirect employment to 1000 when operational. The new refinery would be capable of producing cleaner fuels having capacity of nearly 4 MMTPA and 1.8 MMPTPA of gasoline of BS-VI grade, 0.6 MMTPA of LPG and 0.3 MMTPA of Aviation Turbine Fuel (ATF).