The Paradip-Hyderabad pipeline being laid at a cost of Rs 2,321 crore would be commissioned by 2020, a top officials of Indian Oil Corporation Limited said on Thursday.
Subhodh Dakwale, Executive Director and All India Head for Corporate Communications and Branding, told reporters that land acquisition for laying the pipeline via Vizag, Vijayawada and Suryapet is almost over.
The pipeline will help evacuate products from IOC’s refinery in Paradip in Odisha.
He said that IOC would be expanding its operations in both Andhra Pradesh and Telangana over the next two to three years with an investment of about Rs 3,000 crore.
A green field project with a cost of Rs 320 crore would be taken up in Vizag soon. In Telangana, IOCL would be setting up a new oil terminal with an investment of Rs 500 crore, he said, Terminals would also be set up in Thimmapur and Charlapalli in Telangana.
The capacity of terminals at Vijayawada and Vizag will be augmented at a cost of Rs 316 crore.
The IOC, India’s flagship oil company, operates 11 refineries and its 80.07 million metric tonne refining capacity — to be raised to 150 mmtpa — is 35 per cent of the national capacity. IOC has about 13,400 km pipeline to transport crude oil and petroleum.
The company has 27,000 fuel stations and provides cooking gas (LPG) to 12 crore house holds through over 10,000 distributors.