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IOC to Invest Rs 840cr to Expand POL Storage Capacity

PSU major Indian Oil Corporation on Sunday said it will invest nearly Rs 8.40 billion in expanding its Petroleum, Oil and Lubricant (POL) storage capacities, including setting up a greenfield facility, in the Northeast.

 

The company is planning to take its POL capacities to 5,530 Thousand Metric Tonnes Per Annum (TMTPA) by 2030 from the existing 3,160 TMTPA, said Indian Oil Corporation Executive Director (IndianOil-AOD) G Ramesh.

 

"We have two major projects coming up in the POL segment. The first one is the setting up of a greenfield depot at Sekerkote in Tripura. This will entail an investment of around Rs 5.40 billion and will be completed by 2024," he said.

 

"Another major project that we will undertake is the expansion of the Betkuchi POL depot in Guwahati. We have earmarked Rs 2.98 billion to increase the storage intake to 54,000 KL from 25,000 KL now, install new fire water tanks and other facilities," Ramesh said.

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