State-owned oil refiner Indian Oil Corporation (IOC) is planning to invest $1.19 billion (€1 billion) for the construction of a new crude oil pipeline project.
With a capacity of 17.5 million tonne per annum (MMTPA) capacity, the pipeline will run from the port city of Mundra in Gujarat to IOC’s Panipat refinery in Haryana.
The project will also include installation of nine crude oil storage tanks, each with 60,000 kilolitres capacity, at Mundra.
IOC expects the new pipeline system and storage tanks to help in meeting the increased crude oil requirement following the Panipat refinery expansion from 15 MMTPA to 25 MMTPA.
As part of the Panipat refinery expansion plan, Indian Oil will also install Polypropylene Unit and Catalytic Dewaxing Unit. The expansion project is due for completion by 2024-25.
Indian Oil said in a press statement: “The crude oil pipeline project is expected to be completed in synchronisation with the commissioning of Panipat refinery expansion.”
The Panipat refinery is capable of processing a wide range of both indigenous and imported grades of crude oil into value-added fuels such as petrol, diesel, and ATF. The Panipat Refinery & Petrochemical complex is designed to serve the demand of petroleum products in the entire North-Western region in India.
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