WORKS COMMENCE ON PROJECTS WORTH Rs 1.04 TRILLION AT INDIANOIL

Sarkaritel
By Sarkaritel July 8, 2020 17:29


  • Additionally, more than 50 projects have also resumed since 1st of July 2020.
  • 336 projects commenced after lockdown eased till 30th June 2020.
  • 13.3 Lac man-days work accomplished during 20th April to 30th June 2020.
  • On track for achieving Rs CAPEX target of Rs 26,143 Crores during FY 20-21.

New Delhi, 8th July 2020: Indian Oil Corporation Ltd. (IndianOil) has resumed works at its various project sites across the country after the easing of lockdown from 20th April 2020. Gearing up to ramp up activities, IndianOil is taking all necessary precautions to ensure that its entire workforce is aligned to the ‘New Normal’ and detailed advisories issued from time to time, for the safety and health of the employees and workers during these COVID times, are being strictly followed.

Since the easing of the lockdown, IndianOil has commenced works on 336 projects that have investment of more than Rs 1 Crore in each project, at an anticipated project cost totalling to Rs 1.04 Lac Crores (Rs 1.04 Trillion). The amount spent on these ongoing projects is about 1,764 Crores till the end of June 2020. Additionally, more than 50 projects have also resumed since 1st of July 2020. IndianOil has targeted a CAPEX of Rs 26,143 Crores during FY 20-21 and in the first quarter achieved an approx. expenditure of Rs 2,674 Crores, overcoming various issues faced on-ground due to the Coronavirus pandemic.

These mega projects would not only boost the economy, ensure smooth supply of petroleum products across the nation and also provide much needed relief to the people looking to get back to work after the lockdown. The man-days of work, generated in these projects during the period 20th April to 30th June 2020 is about 13.3 Lac and the expenditure incurred on this account is about Rs 276 Cr.

Major pipeline projects where works have resumed include the Rs. 3,338 Crore Paradip-Hyderabad products pipeline, which traverses 1,212-km through Odisha, Andhra Pradesh and Telangana; the Rs. 3,028 Crore augmentation of Paradip-Haldia-Durgapur LPG pipeline and its extension to Patna and Muzaffarpur, which traverses 678-km through Odisha, Jharkhand, West Bengal and Bihar; the Rs. 6,025 Crore Ennore-Tiruvallur-Bangalore-Pondicherry-Nagapattinam-Madurai-Tuticorin R-LNG pipeline, which travels 1,170-km through Tamil Nadu, Andhra Pradesh, Puducherry and Karnataka.

Works have also commenced at major marketing infrastructure projects like LPG import facilities at Kochi (Rs 714.25 Crores), LPG import facilities at Paradip (Rs 690 Crores), Capacity Augmentation of Kandla Import Terminal from 0.6 TO 2.5 MMTPA (Rs 730.2 Crores), Construction of POL Terminal at Motihari (Rs 522 Crores) and Pipeline Tap of point (TOP) terminal at Hyderabad (Rs 611 Crores).

Barauni Refinery expansion including the Petrochemical plant (Rs 14810 Crores); Ethylene Glycol project at Paradip Refinery (Rs 5654 Crores); Fuel Quality Upgradation Project at Paradip (Rs 3361 Crores) & at Barauni (Rs 1774 Crores) and NCU expansion & revamp of MEG & BEU unit, at Panipat (Rs 1636 Crores) as some of the Refinery Projects underway.

IndianOil’s CAPEX plans depend on long-term demand potential in the country. These projects are crucial from the perspective of addressing future energy demands as well as employment generation while kickstarting the economy with a focus on ‘Atmanirbhar Bharat’.

Sarkaritel
By Sarkaritel July 8, 2020 17:29