Indian Oil Corporation to set up R&D centre in Faridabad
Petroleum minister Dharmendra Pradhan and Haryana CM Manohar Lal Khattar digitally lay foundation stone of ₹2,282-crore projectUpdated: Jun 29, 2020 23:59 IST
Union petroleum minister Dharmendra Pradhan and Haryana chief minister Manohar Lal Khattar on Monday digitally laid the foundation stone of Indian Oil Corporation’s (IOC) state-of-the-art research and development (R&D) centre to come up in Faridabad.
The centre, the second of its kind and spread across 60 acres, will be built at a cost of around ₹2,282 crore, an official spokesperson said.
Pradhan said the R&D centre will emerge as a laboratory for an alternative, clean, and indigenous energy solution. He called it a big step towards realising the vision of Prime Minister Narendra Modi in making India self-reliant in all sectors, especially the energy.
He urged the IOC to provide further impetus to waste-to-energy programmes in Haryana and work towards making the state a global model in alternative energy solutions. The oil firm will also set up an ethanol plant in Panipat’s Bohali.
Khattar said Haryana has become a preferred investment destination for entrepreneurs as setting up a new industry had become easier in the state.
Presently, Haryana is on third position in the country in terms of ‘ease of doing business’ and first among all northern states, he added.