AP to receive Rs 1,689 cr from Indian Oil Corporation

07 Dec 2020 CW Staff

At a press conference, Indian Oil officials disclosed that the projects that have been undertaken and subsequently scheduled for commissioning in the next two years. According to the corporation, Rs 1,522 crore out of the entire investment would be pumped into the infrastructure of petro products and the remaining Rs 167 crore into liquified petroleum gas (LPG). Further, Kondapalli’s existing Vijayawada Terminal, which is set to function as the Tap Off Point Terminal for the Paradip-Hyderabad Pipeline (PHPL), would undergo a revamping to increase its storage capacity.

A grassroots Tap Off Point Terminal for the PHPL is in the works at Atchutapuram in Visakhapatnam to meet the needs of the districts of Visakhapatnam, Srikakulam, and Vizianagaram, he added. He said that the completion of this terminal, which is spread over 60 acres of land and is being undertaken for Rs 466 crores is expected to achieve completion by July 2021.

Apart from the three existing Indane LPG bottling plants at Visakhapatnam, Kadapa, and Kondapalli, a new one is all set to be established in Chittoor. The setting up of the new plant would improve the bottling capacity of the state to an estimate of about 1.4 lakh cylinders per day. Additionally, the construction of a new rail fed depot worth Rs 385 crore is in the works at Nakkandodi in Guntakal. This project, which has a tankage capacity of approximately 55,000 kilometres is likely to undergo commissioning by March 2021.

To progress with the setting up of the new 1,291 retail outlets in the state, IOC has sent applications. So far, it has recorded just 1,139 responses, upon which it has issued the letter of intent for the opening of 346 outlets.

Source: The Hindu

Also read: Rs 100 bn to be invested in 1,000 LNG stations

In a recent announcement, Indian Oil Corporation said it is all set to infuse a sum worth Rs 1,689 crore into Andhra Pradesh, specifically to facilitate the development and expansion of its infrastructure and distribution network in a bid to meet the rising demand for petroleum products, including diesel, petrol, and LPG in the region. At a press conference, Indian Oil officials disclosed that the projects that have been undertaken and subsequently scheduled for commissioning in the next two years. According to the corporation, Rs 1,522 crore out of the entire investment would be pumped into the infrastructure of petro products and the remaining Rs 167 crore into liquified petroleum gas (LPG). Further, Kondapalli’s existing Vijayawada Terminal, which is set to function as the Tap Off Point Terminal for the Paradip-Hyderabad Pipeline (PHPL), would undergo a revamping to increase its storage capacity. A grassroots Tap Off Point Terminal for the PHPL is in the works at Atchutapuram in Visakhapatnam to meet the needs of the districts of Visakhapatnam, Srikakulam, and Vizianagaram, he added. He said that the completion of this terminal, which is spread over 60 acres of land and is being undertaken for Rs 466 crores is expected to achieve completion by July 2021. Apart from the three existing Indane LPG bottling plants at Visakhapatnam, Kadapa, and Kondapalli, a new one is all set to be established in Chittoor. The setting up of the new plant would improve the bottling capacity of the state to an estimate of about 1.4 lakh cylinders per day. Additionally, the construction of a new rail fed depot worth Rs 385 crore is in the works at Nakkandodi in Guntakal. This project, which has a tankage capacity of approximately 55,000 kilometres is likely to undergo commissioning by March 2021. To progress with the setting up of the new 1,291 retail outlets in the state, IOC has sent applications. So far, it has recorded just 1,139 responses, upon which it has issued the letter of intent for the opening of 346 outlets. Source: The Hindu Also read: Rs 100 bn to be invested in 1,000 LNG stations

Infrastructure Urban

06 Apr 2026

InsideFPV Delivers ₹10 Crore Kamikaze Drone Order Under MoD’s EPR Route

InsideFPV, a Surat-based drone technology manufacturer, has successfully executed a ₹10 crore defence contract to supply indigenous kamikaze drones under the Ministry of Defence’s Emergency Procurement Route (EPR). The company completed the delivery of hundreds of FPV kamikaze drone platforms within a rapid two-month timeframe, highlighting its ability to meet urgent military procurement timelines.The supply orders were fulfilled under the emergency procurement mechanism, which is aimed at fast-tracking acquisitions for immediate operational needs. InsideFPV’s quick execution reflects it..

Infrastructure Energy

06 Apr 2026

Vedanta Resources Secures Fitch Upgrade to ‘BB-’, Best Rating Since 2015

Vedanta Resources Limited (VRL), a global player in metals, oil & gas, critical minerals, power and technology, has received a credit rating upgrade from Fitch Ratings, marking its strongest bond rating in over a decade.Fitch has raised Vedanta Resources’ Long-Term Foreign-Currency Issuer Default Rating (IDR) to ‘BB-’ from ‘B+’, while maintaining a Stable Outlook. The agency also upgraded VRL’s senior unsecured rating, along with the ratings of US dollar-denominated bonds issued by Vedanta Resources Finance II Plc and guaranteed by VRL, to ‘BB-’.The upgrade represents Vedan..

Real Estate

06 Apr 2026

NAREDCO NextGen NCR Chapter Launched

The NAREDCO NextGen NCR Chapter was recently launched at Excelerate 2026 in Mumbai, marking a key step towards integrating emerging real estate leaders from the National Capital Region with the national platform. The initiative aims to promote sustainable and responsible urban development through collaboration and knowledge exchange.The event brought together young developers, entrepreneurs, and professionals from across NCR, including Noida, Gurugram, Ghaziabad, Faridabad, Bhiwadi, and Meerut. Discussions focused on urban development, finance, sustainability, innovation, and policy, emphasisi..