Board of Indian Oil Corporation approves two projects

At meeting held on 29 January 2015

Indian Oil Corporation announced that the Board of Directors of the Company at its meeting held on 29 January 2015, has approved the following projects:-

1. Laying of Paradip-Hyderabad Product Pipeline

The product pipeline is proposed for evacuation of the products from the upcoming Paradip Refinery to storage depots in Andhra Pradesh and Telangana. The pipeline having a length of 1150 kms would have a capacity of 4.5 MMTPA. The pipeline with allied facilities is estimated to cost Rs. 2,789 crore and would be completed in a period of 36 months after receipt of statutory clearances.

2. Construction of 0.6 MMTPA LPG Import Facility at Paradip and augmentation of Paradip-Haldia-Durgapur LPG Pipeline

In order to meet the deficit of LPG supply in eastern sector, the Corporation would construct 0.6 MMTPA LPG Import facility at Paradip at an estimated cost of Rs. 690 crore. In addition, the existing Paradip-Haldia-Durgapur LPG Pipeline would be augmented and extended to Patna and Muzaffarpur to ensure smooth supply of LPG in the region. The pipeline augmentation and extension is estimated to cost Rs. 1,823 crore. The project would be completed within 36 months from the date of statutory approvals.

Powered by Capital Market - Live News