IOC to invest Rs 9,028 crore for setting up a new crude oil pipeline

IOCL operates a network of more than 15,000-km long crude oil, petroleum product and gas pipelines

Indian Oil Corporation (IOCL) is setting up a new crude oil pipeline system with a nameplate capacity of 17.5 million tonnes per annum (mmtpa) from Mundra (Gujarat) to Panipat (Haryana).

A company statement said IndianOil will also build 9 crude oil tanks of 60,000 kilo litres each at Mundra, which, apart from meeting operational requirements, will also help in enhancing crude oil storage capacity in the country. The total estimated cost of the project is Rs 9,028 crore. The investment proposal was approved by the IndianOil Board, at its meeting held on December 20.

IOCL said it is implementing a project for