IOC to upgrade all fuel pumps in MP, Chhattisgarh by 2015

The company will also launch the Direct Benefit Transfer of LPG scheme in four districts

Indian Oil Corporation Limited (IOC) will upgrade all its fuel pumps into automated ones in Madhya Pradesh and Chhattisgarh by end of 2015.

"As many as 25 per cent of our outlets are fully automated and all outlets in Madhya Pradesh and Chhatisgarh will be automated by 2015," said Sanjeev Kumar Jain, General Manager, Madhya Pradesh IOC.

Also, to increase its tankage capacity, the company is planning to set up two terminals in Chhattisgarh and one in Madhya Pradesh.

"We will set up two terminals with considerable storage capacity at Lakholi and Korba in Chhattisgarh, while the other will come up in Madhya Pradesh. Also the existing petrol depot of the company in Bhopal will be shifted to Phandakala near Phanda railway station," said Jain.

The capacity of the Lakholi terminal will be 69.5 thousand kiloliter (TKL) of petrol and 100.4 TKL of diesel. Similarly the Korba storage terminal will have 24.4 TKL of petrol and 42.3 TKL of diesel storage capacity.

The company will launch the Direct Benefit Transfer of LPG (DBTL) scheme in Burhanpur, Khandwa, Harda and Hoshangbad districts.

The company has a total of 4.8 million LPG subscribers in Madhya Pradesh and Chhattisgarh. Of them 3.76 million are in Madhya Pradesh. On DBTL he said, "The subsidy will be available for consumers within two days from the delivery of the LPG cylinder."

The amended DBTL scheme offers a liberty to even those consumers who do not have Aadhaar card. The consumers, however, will be given a three month 'grace period' where they will continue to receive the cylinders at a market rate, but after the end of the three months they will have to get a bank account and join the scheme.

Consumers will be given a 'permanent advance' which means they will get an advance subsidy as soon as they make first booking of the LPG cylinder. The advance will be directly transferred to their bank account prior to the delivery.