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21 November, 2024 18:26 IST |
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IOC gets nod for new crude oil pipeline from Mundra to Panipat
Source: IRIS | 21 Dec, 2021, 04.31PM
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| Rating: NAN / 5 stars. |
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 Indian Oil Corporation (IOC), India's largest oil marketing company,Indian Oil Corporation (IOC), India's largest oil marketing company, announced that the company has received board’s approval for investment proposal of new crude oil pipeline system with nameplate capacity of 17.5 MMTPA from Mundra to Panipat along with augmentation of crude oil tank farm at Mundra, at an estimated cost of Rs 90.28 billion.
The project will meet the enhanced crude oil requirement arising out of capacity expansion of Panipat Refinery from 15 MMTPA to 25 MMTPA. The project is expected to be completed within 36 months and would be synchronized with the commissioning of Panipat Refinery expansion project.
Shares of the company gained Rs 0.65 or 0.60%, to trade at Rs 109.55. The total volume of shares traded was 612,550 at the BSE (3.03 p.m, Tuesday).
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