Indian Oil Corporation to invest Rs 9,028 cr on Mundra-Panipat pipeline

New Delhi, December 23

Indian Oil Corporation (IOC), the nation’s largest oil firm, on Thursday said it will invest Rs 9,028 crore in laying a new crude oil pipeline from Mundra in Gujarat to Panipat in Haryana.

The pipeline, which will have a nameplate capacity of 17.5 million tonne per annum, will transport imported crude oil from the Gujarat coast to the firm’s refinery in Haryana, the company said.

“Under this project, IOC would also build nine crude oil tanks of 60,000 kilolitres each at Mundra, which, apart from meeting operational requirements, would help in enhancing crude oil storage capacity in the country.

The total estimated cost of the project is Rs 9,028 crore,” it said adding the Board of the company approved the investment proposal at its meeting on December 20.

IOC is implementing a project for capacity expansion of Panipat refinery from 15 million tonne per annum to 25 million tonne along with the installation of polypropylene unit and Catalytic Dewaxing Unit with targeted completion in second quarter of FY 2024-25.

“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. The crude oil pipeline project is expected to be completed in synchronisation with the commissioning of Panipat refinery expansion,” it said. — PTI

Pipeline to have 17.5 mt capacity

The pipeline, which will have a nameplate capacity of 17.5 million tonne per annum, will transport imported crude oil from the Gujarat coast to the IndianOil’s refinery in Panipat
Under this project, IOC would also build nine crude oil tanks of 60,000 kilolitres each at Mundra, which would help in enhancing crude oil storage capacity in the country