IOCL plans Rs 840 cr investment in greenfield facility in Northeast
 IOCL plans Rs 840 cr investment in greenfield facility in Northeast
OIL & GAS

IOCL plans Rs 840 cr investment in greenfield facility in Northeast

Indian Oil Corporation Limited (IOCL) told the media that it would invest about Rs 840 crore to expand its Petroleum, Oil and Lubricant (POL) storage capacities, including setting up a greenfield facility in the Northeast region.

Executive Director of IOCL, G Ramesh, told the media that the company plans to take its POL capacities to 5,530 metric tonnes per annum (mtpa) by 2030 from the existing 3,160 mtpa.

He said that two major projects are coming up in the POL segment. The first one is setting up a greenfield depot at Sekerkote in Tripura with an investment of around Rs 540 crore and will be completed by 2024.

Currently, land clearing works are ongoing, followed by the commencement of the construction.

Ramesh said that there is another major project that we will undertake is the expansion of the Betkuchi POL depot in Guwahati. It has earmarked Rs 298 crore to increase the storage intake to 54,000-kilolitre from 25,000-kilolitre and install new fire water tanks and other facilities.

He said the company has already acquired 10.67 acres of land to expand the Betkuchi plant.

The company completed constructing a greenfield POL unit at Moinarbond, Assam. Now railway tracks are being aligned for facilitating the bulk movement of fuel.

Ramesh said that the company had invested Rs 5-4 crore in the Silchar plant. It is a major greenfield unit, and it will be commissioned within the next few months.

After the greenfield units are operationalised, over 800 people will be hired at Moinarband and Sekerkote through permanent and contract modes.

Presently, IOCL has 13 POL depots in the Northeast region, having an installed capacity of 3,160 mtpa, while the capacity utilisation is 2,428 mtpa.

An official said that after all our expansion projects are completed, the company's installed storage capacity will reach 5,530 mtpa against a projected demand of 4,950 mtpa by 2030.

IOCL had said it is embarking on a major expansion drive to enhance its LPG bottling capacity in the Northeast region by about 53% to eight crore cylinders per year by 2030 to cater to the need for cooking fuel.

Image Source

Indian Oil Corporation Limited (IOCL) told the media that it would invest about Rs 840 crore to expand its Petroleum, Oil and Lubricant (POL) storage capacities, including setting up a greenfield facility in the Northeast region. Executive Director of IOCL, G Ramesh, told the media that the company plans to take its POL capacities to 5,530 metric tonnes per annum (mtpa) by 2030 from the existing 3,160 mtpa. He said that two major projects are coming up in the POL segment. The first one is setting up a greenfield depot at Sekerkote in Tripura with an investment of around Rs 540 crore and will be completed by 2024. Currently, land clearing works are ongoing, followed by the commencement of the construction. Ramesh said that there is another major project that we will undertake is the expansion of the Betkuchi POL depot in Guwahati. It has earmarked Rs 298 crore to increase the storage intake to 54,000-kilolitre from 25,000-kilolitre and install new fire water tanks and other facilities. He said the company has already acquired 10.67 acres of land to expand the Betkuchi plant. The company completed constructing a greenfield POL unit at Moinarbond, Assam. Now railway tracks are being aligned for facilitating the bulk movement of fuel. Ramesh said that the company had invested Rs 5-4 crore in the Silchar plant. It is a major greenfield unit, and it will be commissioned within the next few months. After the greenfield units are operationalised, over 800 people will be hired at Moinarband and Sekerkote through permanent and contract modes. Presently, IOCL has 13 POL depots in the Northeast region, having an installed capacity of 3,160 mtpa, while the capacity utilisation is 2,428 mtpa. An official said that after all our expansion projects are completed, the company's installed storage capacity will reach 5,530 mtpa against a projected demand of 4,950 mtpa by 2030. IOCL had said it is embarking on a major expansion drive to enhance its LPG bottling capacity in the Northeast region by about 53% to eight crore cylinders per year by 2030 to cater to the need for cooking fuel. Image Source

Next Story
Infrastructure Urban

Global Rare Earth Supply Chains Diversify Away from China

In response to the rising global demand for rare earths critical for producing everything from electric vehicles to wind turbines, supply chains are undergoing a significant realignment away from China. Historically dominant in rare earth production, China's recent policies and geopolitical tensions have prompted Western nations and other stakeholders to seek alternative sources and bolster local capabilities. Rare earth processing involves two essential stages: initial extraction and subsequent refining into individual oxide compounds used to manufacture magnets essential in various industri..

Next Story
Infrastructure Urban

Coal India, US Firm to Explore Argentine Lithium

State-run Coal India Ltd is collaborating with a US company to explore lithium blocks in Argentina, a critical step in securing supplies of the essential battery material, according to an Indian source with direct knowledge of the matter. This initiative is part of India's participation in the US-led Minerals Security Partnership (MSP), which New Delhi joined last year to ensure a steady supply of minerals necessary to meet its zero-carbon objectives. As part of the MSP, India was invited to engage in 20-25 critical minerals projects, with four already identified by the Indian government. Indi..

Next Story
Infrastructure Energy

India's Coal Consumption Set to Surge Amid Hydroelectricity Shortfall

Amid a significant drop in hydroelectricity production caused by inadequate rainfall, India is gearing up to increase its coal consumption to satisfy rising power demands, according to S&P Global Commodity Insights. This shortfall in hydroelectric power is anticipated to perpetuate India's reliance on coal imports. During the fiscal year 2023-24, India's coal production approached the 1 billion metric ton milestone, reflecting the government's strategy to lessen dependency on imported coal. Nonetheless, the country has already imported approximately 85 million metric tons of thermal coal in 20..

Hi There!

"Now get regular updates from CW Magazine on WhatsApp!

Join the CW WhatsApp channel for the latest news, industry events, expert insights, and project updates from the construction and infrastructure industry.

Click the link below to join"

+91 81086 03000

Join us Telegram