PSU main Indian Oil Company on Sunday mentioned it’s going to make investments practically Rs 840 crore in increasing its Petroleum, Oil and Lubricant (POL) storage capacities, together with organising a greenfield facility, within the Northeast.
The corporate is planning to take its POL capacities to five,530 Thousand Metric Tonnes Per Annum (TMTPA) by 2030 from the present 3,160 TMTPA, Indian Oil Company Government Director (IndianOil-AOD) G Ramesh advised PTI.
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“We now have two main tasks developing within the POL phase. The primary one is the organising of a greenfield depot at Sekerkote in Tripura. This may entail an funding of round Rs 540 crore and might be accomplished by 2024,” he mentioned.
At current, land clearing works are happening and the development shall begin subsequently, the official mentioned.
“One other main mission that we are going to undertake is the growth of the Betkuchi POL depot in Guwahati. We now have earmarked Rs 298 crore to extend the storage consumption to 54,000 KL from 25,000 KL now, set up new hearth water tanks and different services,” Ramesh mentioned.
He mentioned the corporate has already acquired an extra 10.67 acres of land to develop the Betkuchi plant.
The corporate has additionally accomplished development of a greenfield POL unit at Moinarbond close to Silchar in Assam and now railway tracks are being aligned for facilitating bulk motion of gasoline.
“On the Silchar plant, we have now invested Rs 5-4 crore. This can be a main greenfield unit and it is going to be commissioned inside the subsequent few months,” Ramesh mentioned.
He additional mentioned that when the greenfield models are operationalised, greater than 800 individuals might be employed at Moinarband and Sekerkote via everlasting and contract modes.
IOC at current has 13 POL depots throughout the Northeast with an put in capability of three,160 TMTPA, whereas the capability utilisation is 2,428 TMTPA, the official mentioned.
“In any case our growth tasks are accomplished, our put in storage capability will attain 5,530 TMTPA in opposition to a projected demand of 4,950 TMTPA by 2030,” he mentioned.
Earlier, IOC had mentioned it’s embarking on a serious growth drive to reinforce its LPG bottling capability in Northeast by practically 53 per cent to eight crore cylinders yearly by 2030 to fulfill the rising demand of cooking gasoline