IndianOil to invest Rs 9,028 cr for new crude oil pipeline system

NEW DELHI: Indian Oil Corporation will invest Rs 9,028 crore for setting up of a new crude oil pipeline system, with a capacity of 17.5 MMTPA, from Mundra (Gujarat) to Panipat (Haryana). Under this project, IndianOil would also build nine crude oil tanks of 60,000 KL each at Mundra, which, apart from meeting operational requirements, would also help in enhancing crude oil storage capacity in the country. "The total estimated cost of the project is Rs 9,028 crore. The IndianOil Board, at its meeting held on 20th December 2021, has approved the investment proposal, IndianOil said in a statement."

"IndianOil is implementing a project for capacity expansion of Panipat refinery from 15 MMTPA to 25 MMTPA along with the installation of Polypropylene Unit and Catalytic Dewaxing Unit with targeted completion in 2nd quarter of FY 2024-25." As per the company, the new pipeline system and crude oil tank storage would help in meeting the enhanced need of crude oil requirement due to the expansion of the Panipat refinery. (IANS)

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