New Delhi, Dec 23 (SocialNews.XYZ) Indian Oil Corporation will invest Rs 9,028 crore for setting up of a new crude oil pipeline system, with a capacity of 17.5 MMTPA, from Mundra (Gujarat) to Panipat (Haryana).
Under this project, IndianOil would also build nine crude oil tanks of 60,000 KL each at Mundra, which, apart from meeting operational requirements, would also help in enhancing crude oil storage capacity in the country.
"The total estimated cost of the project is Rs 9,028 crore. The IndianOil Board, at its meeting held on 20th December 2021, has approved the investment proposal," IndianOil said in a statement."
"IndianOil is implementing a project for capacity expansion of Panipat refinery from 15 MMTPA to 25 MMTPA along with the installation of Polypropylene Unit and Catalytic Dewaxing Unit with targeted completion in 2nd quarter of FY 2024-25."
As per the company, the new pipeline system and crude oil tank storage would help in meeting the enhanced need of crude oil requirement due to the expansion of the Panipat refinery.
"The crude oil pipeline project is expected to be completed in synchronisation with the commissioning of Panipat refinery expansion."
At present, IndianOil operates a network of more than 15,000 km long crude oil, petroleum product and gas pipelines in the country.
It has added 337 km of additional pipeline length during the year 2020-21.
Source: IANS
Gopi Adusumilli is a Programmer. He is the editor of SocialNews.XYZ and President of AGK Fire Inc.
He enjoys designing websites, developing mobile applications and publishing news articles on current events from various authenticated news sources.
When it comes to writing he likes to write about current world politics and Indian Movies. His future plans include developing SocialNews.XYZ into a News website that has no bias or judgment towards any.
He can be reached at gopi@socialnews.xyz
This website uses cookies.
