Oil India's Chennai Petroleum Corporation Limited (CPCL) announced on Tuesday that it will be expanding its refining capacity during this year.

It said that it will expand the current capacity by 6 million tons and for that it is going to spend Rs. 10,000 crore.

Talking to the media, K. Balachandran, CMD of CPCL said that although the plan is to increase the capacity by nine million tons, it will have to scrap the existing refining facility for that. And that is not what they want to do.

The current capacity of the refinery is 3 million tons of crude oil.

This announcement was made during the release of the financial results of the company.

He further added that the company is also thinking of aggressively pursuing the plan of laying a new pipeline from Chennai port to Manali Refinery. This will help in better transportation of the material and thus help in saving cost.

Besides this, it is also evaluating a project which talks about installation of single-point mooring off Ennore. But this is still in the study phase and it will be sometime before any decision comes.