Indian Oil to invest Rs 1,480 cr on pipeline expansion
IOC plans to increase pipeline capacity from 61.718 million tons to 75.480 million tons by March 31, 2008, says Minister of State for Petroleum and Natural Gas Dinsha Patel.business Updated: Aug 23, 2007 15:47 IST
State-run refiner Indian Oil Corp (IOC) plans to invest about Rs 1,480 crore on expansion of pipelines carrying crude oil and petroleum products.
"IOC plans to increase pipeline capacity from 61.718 million tons to 75.480 million tons by March 31, 2008," Minister of State for Petroleum and Natural Gas Dinsha Patel said in a written reply to a question in Lok Sabha in New Delhi.
The company will invest Rs 1,178 crore in the 11 million tonne Paradip-Haldia crude oil pipeline and Rs 224.69 crore in the 2 million tonne Koyali-Ratlam pipeline for transport of petroleum products.
It will invest another Rs 48.58 crore in aviation turbine fuel (ATF) pipeline from Chennai refinery to Air Force Station in Chennai city and Rs 28.61 crore in augmentation of Bongaingaon-Siliguri section of the Guwahati-Siliguri pipeline.
To a separate query, Patel said IOC had not put on hold its proposed liquefied natural gas (LNG) import terminal at Ennore in Tamil Nadu.
"IOC is in the process of pursuing with various prospective LNG suppliers for long-term supply of LNG," he said.
The company, he said in another reply, was in the process of identifying suitable land clusters for developing Jatropha plantation in Madhya Pradesh and Chhattisgarh. Oil from Jatropha is to be doped in diesel to reduce the nation's oil import dependence.
"IOC has applied for allotment of 30,000 hectares of non- forest waste land to the collectors of Dhar and Jhabua in Madhya Pradesh. It has also proposed to the state government of Chhattisgarh for participating in the area of bio-fuel plantation," he said.