IOCL Board Approves Investment Proposal For Various Projects
Indian Oil Corporation Limited (IOCL) has informed that the board of directors of the company at its meeting approved the following:
1. Investment approval for City Gas Distribution projects in 7 Geographical Areas won by lndianOil in 9th Round CGD Bidding
lndianOil has won the Bidding for implementation of City Gas Distribution (CGD) for 7 Geographical Areas viz. Coimbatore District, Salem District, Bokaro District, Rewa District, Aurangabad District, Guna District and Jagtial District. The Board has approved the estimated total capital investment of Rs. 5463 Crore on the implementation of the CGD projects. The investment in CGD business will help lndianOil to expand and consolidate its gas business.
2. Investment proposal for production of Ethanol from PSA off Gas based on LanzaTech Gas Fermentation Technology at Panipat Refinery
Installation of facilities for production of Ethanol from PSA Off Gas of Hydrogen Generation Unit (HGU) at Panipat Refinery using Gas Fermentation Technology of LanzaTech USA at an estimated cost of Rs. 520 crore.
The proposed Ethanol Plant is designed to produce 33.5 KTPA anhydrous Ethanol for use in automotive fuel conforming to BIS and will be suitable for blending with BS-VI MS. The project has the potential of Greenhouse Gas reduction required to limit global climate change.
3. Proposal for Investment approval for Paradip- Somnathpur- Haldia Product Pipeline
Laying of Paradip- Somnathpur- Haldia Pipeline (PSHPL) at an estimated cost of Rs. 1332 crore. The PSHPL would enable placement of products from Paradip Refinery, Odisha to Somnathpur, Odisha for meeting the local demand as well as to Haldia, West Bengal for onward movement through other pipelines.