(T.E.T)
PSU major Indian Oil Corporation on Sunday said it will invest nearly Rs 840 crore 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, Indian Oil Corporation Executive Director (Indian Oil-AOD) G Ramesh told PTI.
“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 540 crore and will be completed by 2024,” he said. At present, land clearing works are going on and the construction shall commence subsequently, the official said. “At the Silchar plant, we have invested Rs 5-4 crore. This is a major greenfield unit and it will be commissioned within the next few months,” Ramesh said. He further said that once the greenfield units are operationalised, more than 800 people will be hired at Moinarband and Sekerkote through permanent and contract modes. IOC at present has 13 POL depots across the Northeast with an installed capacity of 3,160 TMTPA, while the capacity utilisation is 2,428 TMTPA, the official said.
