Indian Oil Corporation (IOC) has unveiled plans to invest $1.57bn by 2015 to expand its pipeline network.
The company intends to lay more than 20 new pipelines to expand its network from 10,900km to 15,000km by 2015.
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"Pipelines with their pan-India presence play a vital role in improving margins and making our refineries and marketing competitive," ICO director-pipelines KK Jha told the Economic Times.
"The combined capacity of our liquid pipelines is over 75 million tonnes per annum and gas pipeline is 10 million standard cubic metres. IOC’s pipeline division has in-house expertise in project from concept to commissioning including detailed design and engineering, procurement and project monitoring," Jha added.
IOC uses transports crude oil from the coast to its refineries and distributes refined products across the country using its pipeline network.
Currently, the company is undertaking several projects such as integrated offshore crude oil handling facilities at Paradip, and de-bottlenecking of Salaya-Mathura-Pipeline, Paradip-Raipur-Ranchi product pipeline, Paradip-Haldia-Budge-Budge-Durgapur LPG pipeline, and Viramgam-Kandla pipeline.
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By GlobalDataIt is also constructing additional crude oil storage tanks at Vadinar, Patna-Raxual-Baitalpur pipeline and dedicated ATF pipelines connecting Kolkata, Guwahati and Delhi (T-3) airports.
IOC has also bagged a $3bn loan, syndicated by SBI Caps, to fund the construction of a new refinery at Paradip in Orissa, India.
The refinery is planned to be built with an investment of nearly $6.12bn.
