HYDERABAD:Indian Oil Corporation Ltd (IOCL) has revealed plans to set up three new terminals at Nalgonda in Telangana, Vizag and Guntakal in Andhra Pradesh, as part of augmenting its capacity.
About Rs 500 crore will be invested in the new terminal to be set up at Nalgonda, while about Rs 327 crore and Rs 350 crore will be spent on Vizag and Guntakal terminals respectively over the next two to three years, said the officials on Thursday.
“Most of the land required for setting up the terminals has been acquired and construction work will begin in few months. We will complete the project over the next 36 months. Besides setting up new terminals, we will also increase the storage capacity of two bottling units in Telangana while working on revamping the existing terminal at Vizag and augmenting capacity of existing terminal at Vijayawada. Together we will be investing Capex of about Rs 560 crore in Telangana and Rs 827 crore in AP,” said Rahul Bharadwaj, Executive Director, Telangana and AP, IOCL, speaking to media in Hyderabad on Thursday.
Senior IOCL officials present on the occasion also threw light on several expansion works being taken up by state owned oil and gas company.
“We are currently working on Paradip–Hyderabad pipeline. Land acquisition for the pipeline has already been done and work is under progress. This pipeline will transport petrol, diesel, aviation fuel and will have a capacity of 4.55 million metric tonnes per annum. It is being constructed with an outlay of about Rs 2,321 crore and is likely to be completed by 2020,” said Subhodh Dakwale, Executive Director, IOCL.
According to a senior IOCL official, Ennore LNG terminal will start functioning from October 2018. The Rs 5,000 crore project will initially start by supplying to all the major industries in Chennai’s Manali belt and later will cover areas down south and Bangalore.