Odisha Sun Times Bureau
New Delhi/Bhubaneswar, Feb 2:
Indian Oil Corporation Ltd (IOCL) would set up a LPG import facility and lay pipelines at Paradip in Odisha’s Jagatsinghpur district with an investment of Rs 5,300 crore.
At its board meeting on January 29, the company approved construction of a 0.6 million tons per annum (MTPA) LPG import facility at an estimated cost of Rs 690 crore to meet the cooking gas deficit in the eastern sector.
The board also approved laying of a 1,150 km oil pipeline from Paradip to Hyderabad at a cost of Rs 2,789 crore.
The pipeline, proposed for evacuation of products from the upcoming Paradip refinery to storage depots in Andhra Pradesh and Telangana, will have a capacity of transporting 4.5 million tons of fuel annually and will be completed in 36 months after receipt of statutory clearances.
Besides, the 15-million tonne oil refinery unit of the company, construction of which is underway at Paradip, will be commissioned in phases from March this year.
The refinery unit would process crude oil grades including cheaper high-sulphur heavy crudes.
The company has also decided to set up a polypropylene project at Paradip at a cost of Rs 3,150 crore by 2017-18.