Indian Oil Commits to Investing Rs 54,000 Crore in Projects Including a Refinery in Tamil Nadu
07.11.2023 By TankTerminals.com News - NEWS

July 11, 2023 [Zee Business]- The Indian Oil Corporation Limited (IOCL), Chennai, has committed to invest Rs 54,000 crore in various projects in Tamil Nadu in the next few years, including a 9 MMTPA (million metric tonnes per annum) grass-root refinery at an estimated cost of Rs 35,580 crore, its executive director and state head (TN & Puducherry) V C Asokan said here on Thursday.

 

“This new refinery, which will come up on about 1,300 acres of land in Nagapattinam, will produce petrol and diesel for BS-VI specifications and also polypropylene. The world’s second-largest integrated lubes complex at Ammullaivoyal village for Rs 1,398 crore apart, the IOCL has planned to lay product pipelines (Rs 2,600 crore), gas pipelines including LPG (Rs 2,225 crore), CGD projects (Rs 7,570 crore), open new retail outlets and launch a modernisation programme (Rs 2,500 crore), build a captive POL/LPG jetty at Kamrajar port (Rs 921 crore), establish a terminal at Vallur (for Rs 724 crore) and set up a new terminal at Asanur (for Rs 466 crore)”, he said.

Pro Trial: Access 12,600 Tank Terminal and Production Facilities

12,600 tank storage and production facilities as per the date of this article. Click on the button and register to get instant access to actionable tank storage industry data

Phillips 66 to Sell 25% Stake in Rockies Pipeline for $1.28 bln
06.18.2024 - NEWS
June 18, 2024 [Reuters]- U.S. oil refiner Phillips 66 said on Friday it would sell its 25% stake... Read More
US Oil Refining Capacity Rises for Second Year in a Row
06.18.2024 - NEWS
June 18, 2024 [Reuters]- U.S. crude oil refining capacity rose 1.5% to 18.38 million barrels per ... Read More
Chevron Lummus Global's ISOTERRA Technology Selected for Sustainable Aviation Fuel Project in China
06.18.2024 - NEWS
June 18, 2024 [Lummus Technology]- Chevron Lummus Global LLC (CLG) today announced its ISOTERRA t... Read More
Russia's June Idle Oil Refining Capacity Raised by 114%
06.18.2024 - NEWS
June 18, 2024 [Hydrocarbon Processing]- Russia’s primary offline oil refining capacity has ... Read More