Indian Oil to Invest Rs 5,300 Crore in LPG Import

New Delhi: Indian Oil Corporation (IOC), the nation's largest oil firm, today said it will invest Rs 5,300 crore in setting up an LPG import facility at Paradip in Odisha and laying pipelines.

 

IOC board in its meeting on January 29 approved laying of a 1,150 km oil pipeline from Paradip to Hyderabad at a cost of Rs 2,789 crore.

 

The Paradip-Hyderabad product pipeline "is proposed for evacuation of the products from the upcoming Paradip refinery to storage depots in Andhra Pradesh and Telangana," the company said in a regulatory filing.

 

The pipeline would have a capacity of transporting 4.5 million tons of fuel annually. "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," it said.BUSINESS STANDARD
 

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