Shrikant Madhav Vaidya has taken over as the Chairman of IndianOil Corporation Ltd. He will also be the Chairman of Chennai Petroleum Corporation Ltd, a stand-alone refining subsidiary of IndianOil and Indian Oiltanking Ltd, another joint venture providing ‘terminalling’ services.

In addition, Vaidya will be on the board of Hindustan Urvarak & Rasayan Ltd, a joint venture that is setting up three world-scale fertiliser plants. Vaidya, who is on the board of Ratnagiri Refinery & Petrochemicals Ltd, will be taking over as its Chairman. He will also be a Director on the Board of Petronet LNG Limited.

Vaidy was the Director (Refineries) on the IndianOil Board since October 2019. He succeeds Sanjiv Singh, who superannuated from the services of the Corporation on Tuesday.

Vaidya is a chemical engineer from the National Institute of Technology, Rourkela. He has over 34 years of experience in refining and petrochemicals operations. He has had a decade-long association with India’s largest cracker plant ― the Panipat naphtha cracker complex — a major driver of IndianOil’s petrochemicals business, right from the drawing board stage, a company statement said.

During his tenure as Director (Refineries) and earlier as Executive Director (Refinery Operations) at IndianOil, Vaidy presided over several refinery expansion and petrochemical projects. He also steered the timely roll-out of BS-VI grade auto fuels across the country, commenced supply of IMO-compliant bunker fuel (0.5 per cent sulphur) and a special winter-grade diesel for the high-altitude regions of the Himalayas, and expanded the Corporation’s green energy offerings with projects related to biofuels and 2G/3G ethanol-blended fuels at its refineries, the statement added.

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