Indian Oil Corp (IOC) a state-run oil refiner, plans to invest approximately Rs 14.8 billion (264 million) on expanding pipelines carrying crude oil and petroleum products.
IOC intends to increase pipeline capacity from 61.718 million tonnes to 75.480 million tonnes by the end of March 2008.
The company will invest Rs 11.78 billion in the 11 million tonne Paradip-Haldia crude oil pipeline, and Rs 2.25 billion in the 2 million tonne Koyali-Ratlam pipeline for transport of petroleum products.
It will invest another Rs 458 million in aviation turbine fuel (ATF) pipeline from Chennai refinery to Air Force Station in Chennai city, and Rs 286 million in the augmentation of Bongaingaon-Siliguri section of the Guwahati-Siliguri pipeline.
IOC is also considering building a liquefied natural gas (LNG) import terminal at Ennore in Tamil Nadu. 'IOC is in the process of negotiating with various prospective LNG suppliers for long-term supply of LNG,' the Minister of State for Petroleum and Natural Gas says.