IOC will invest Rs 2600 crore on setting up new projects and capacity expansion in the North-East – Dainik Savera Times
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Guwahati: Public sector Indian Oil Corporation (IOC) plans to invest over Rs 2,600 crore in the next few years to set up new projects and expand capacity in the North-East. A senior official of the company gave this information. The IOC Board of Directors has already approved various new projects. Some approvals are in the process of getting it. The public sector company is in talks with the governments of Meghalaya, Mizoram and Manipur for land for new projects.
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Ganoshan Ramesh, Executive Director (Indian Oil-Assam Oil Department), IOC, said, “The North-East region is one of the most important regions for Indian Oil. The top management is paying a lot of attention to this area. We plan to expand our operations by expanding refining as well as increasing petroleum, oil and lubricants (POL) storage capacity,” he said, adding that the company is currently working on about a dozen projects, including both new and old, across the region. Still working. There will be a total investment of Rs 2,612 crore in this.
“We have a big project in the petroleum, oil and lubricants segment,” Ramesh said. A new depot is being constructed at Sekarkote in Tripura at an investment of Rs 656 crore. The Board of Directors has also given its approval for another project. Under this, Betkuchi POL depot in Guwahati will be expanded at a cost of Rs 277 crore. IOC plans to increase the storage capacity to 54,000 kiloliters from the current 25,000 kiloliters, install new fire water tanks and other facilities. It has already acquired 10.67 acres of additional land for the expansion of the Betkuchi plant.
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“Indian Oil has announced plans to expand the capacity of its refineries in Guwahati and Digboi respectively,” the official said. An investment of Rs 412 crore and Rs 768 crore has been planned. Expansion of the Bongaigaon Refinery is also envisaged under the North-East ‘Hydrocarbon Vision’ 2030. Presently the process of land acquisition is going on.” He said that the company has decided to redesign the Dimapur depot in Nagaland. The expenditure on this is estimated to be Rs 231 crore. At present the approval of the Board of Directors has to be taken on this.
“Land is being finalized to set up new POL depots at Umran in Meghalaya and Sihmui in Mizoram to provide fuel security to these states,” Ramesh said. We are also in talks with the Government of Manipur for wagon receipt facility at our Imphal depot.” He said that apart from this, the company is also working to increase LPG bottling infrastructure in all the North Eastern states.
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