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IOC To Inject 840 Crore Into POL Plant, NE Storage Capacity

TNI || New Delhi || 5th April 2022

Indian Oil Corporation announced that it will invest nearly Rs. 840 crore in extending its petroleum, oil and lubricant (POL) storage space in the northeast, including the construction of a greenfield facility.

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Indian Oil Corporation Executive Director, G Ramesh, said that the corporation plans to increase its POL capacity to 5,530 Thousand Metric Tonnes Per Annum (TMTPA) by 2030 from the current 3,160 TMTPA.

In the POL segment, they have two large projects coming up. The first is the construction of a new greenfield depot at Sekerkote, Tripura.

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He stated that it will cost roughly Rs. 540 crores to build and is due to be finished by 2024.

Land clearance work is currently underway, with construction to follow, as per the official.

The development of the Betkuchi POL depot in Guwahati is another important project that they will undertake.

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They have set aside Rs 298 crore to boost storage capacity to 54,000 KL from the current 25,000 KL, as well as to set up new fire water tanks as well as other amenities, Ramesh added.

According to him, the corporation has already purchased 10.67 acres of land to extend the Betkuchi facility.

The company has also finished the building of a greenfield POL unit in Moinarbond, Assam, near Silchar, and is now aligning railway tracks to facilitate bulk fuel movement.

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This is a large greenfield unit that will be operational in the next few months. He further stated that once the greenfield plants are operating, more than 800 workers will be hired in permanent and contract positions at Moinarband and Sekerkote.

According to the official, IOC now operates 13 POL terminals across the Northeast with a cumulative installed capacity of 3,160 TMTPA and a capacity utilisation of 2,428 TMTPA.

By 2030, when all of the expansion projects are done, their total storage capacity will be 5,530 TMTPA, compared to a predicted demand of 4,950 TMTPA. 

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IOC has previously stated that it is embarking on a significant development effort in the Northeast to expand its LPG bottling output by about 53% to eight crore cylinders yearly by 2030 in order to fulfil the increased demand for cooking fuel.