Rs 573 crore spent in Indian Oil Corporation projects till August 15: Dharmendra Pradhan

According to the review, Indian Oil Corporation Limited (IOCL) has spent Rs 346 crore during the current financial year on its 357-KTA Monoethylene Glycol (MEG) plant at Paradip Refinery.
Union Minister Dharmendra Pradhan (File photo| PTI)
Union Minister Dharmendra Pradhan (File photo| PTI)

BHUBANESWAR: Union Minister of Petroleum and Natural Gas Dharmendra Pradhan on Tuesday reviewed the progress of 25 major petroleum projects including the three under implementation in Odisha.

According to the review, Indian Oil Corporation Limited (IOCL) has spent Rs 346 crore during the current financial year on its 357-KTA Monoethylene Glycol (MEG) plant at Paradip Refinery. The project is estimated to cost Rs 5,654 crore.  The project is seen as a key driver for the growing textiles industry in the region and will cater to the rising demand for polyester fibre. 

L&T Hydrocarbon Engineering Limited (LTHE), a wholly owned subsidiary of Larsen & Toubro, is implementing the project under engineering, procurement, construction and commissioning (EPCC) contracts. The work on the IOCL’s Paradip-Hyderabad pipeline project that was halted for over a month due to Covid pandemic lockdown is at an advanced stage of completion.

The national PSU utilised around Rs 200 crore during this fiscal on the project estimated at Rs 3,338 crore. The 1,212 km Paradip-Hyderabad petroleum products pipeline passes through Odisha, Andhra Pradesh and Telangana. Works on the LPG import facility at Paradip has also commenced. To augment LPG import infrastructure at Paradip, IOCL is setting up a 0.6 MMTPA capacity LPG import terminal at an estimated cost of `690 crore. 

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