IOC will invest an additional INR 50,000 crore to expand its pipeline network to 17,000 km from 11,000 km, besides into marketing of fuel and distribution of liquefied petroleum gas (LPG).
Out of this, INR 50,000 crore will go into its core business of refining, which will involve capacity expansion across its four refineries - Koyali in Gujarat, Mathura in Uttar Pradesh, Panipat in Haryana and Barauni in Bihar.
This will add capacity almost equivalent to its yet-to-be-operational 15 million tonnes per annum (mtpa) Paradip refinery in Odisha.
“Going by anticipated growth of the country, we believe there is going to be definitive requirement of energy in future, and we are operating in an industry where we have to create capacity before the demand. Therefore, we are definitely going to invest very heavily, probably much higher than earlier,” Ashok said.
IOC will invest an additional INR 50,000 crore to expand its pipeline network to 17,000 km from 11,000 km, besides into marketing of fuel and distribution of liquefied petroleum gas (LPG).
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