Indian Oil resumes work on projects worth ₹1.04 lakh crore

Our Bureau New Delhi | Updated on July 08, 2020 Published on July 08, 2020

Indian Oil Corporation has for decades been India’s biggest company by turnover.   -  Reuters

Indian Oil Corporation Limited has resumed work on projects worth ₹1.04 lakh crore across the country, after the easing of lockdown from April 20.

“Indian Oil has commenced works on 336 projects that have investment of more than ₹1 crore in each project, at an anticipated project cost totalling to ₹1.04 lakh crore. The amount spent on these ongoing projects is about ₹1,764 crore till the end of June 2020. Additionally, more than 50 projects have also resumed since July 1, 2020,” a company statement said.

The company has targeted a capital expenditure of ₹26,143 crore in FY21, and in the first quarter achieved an approximate expenditure of ₹2,674 crore, overcoming various issues on ground due to the Covid-19 pandemic, the statement said.

Major pipeline projects where works have resumed include the ₹3,338-crore Paradip-Hyderabad products pipeline. Work on the ₹3,028-crore augmentation of Paradip-Haldia-Durgapur LPG pipeline and the ₹6,025-crore Ennore-Tiruvallur-Bengaluru-Pondicherry-Nagapattinam-Madurai-Tuticorin R-LNG pipeline has also resumed.

“Work has commenced at major marketing infrastructure projects like LPG import facilities at Kochi (₹714.25 crore), LPG import facilities at Paradip (₹690 crore), capacity augmentation of Kandla Import Terminal from 0.6- 2.5 million tonne per annum (₹730.2 crore), construction of Petroleum, Oil, & Lubricants Terminal at Motihari (₹522 crore) and pipeline tap of point (TOP) terminal at Hyderabad (₹611 crore),” the statement said.

Some of the Refinery Projects underway are the Barauni Refinery expansion including the petrochemical plant (₹14,810 crore), the ethylene glycol project at the Paradip Refinery (₹5,654 crore), fuel quality upgradation project at Paradip (₹3,361 crore) and at Barauni (₹1,774 crore) and the NCU expansion and revamp of MEG & BEU unit at Panipat (₹16,36 crore).

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Published on July 08, 2020
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