Indian Oil Corporation Ltd board approves expansion of capacity at Panipat Refinery to 25 MMTPA
Posted On: 2021-02-26 05:19:42 (Time Zone: Arizona, USA)
The Board of Indian Oil Corporation Limited (IndianOil) at its meeting held on 26th February 2021 has accorded its approval for capital investment for capacity expansion of Panipat Refinery from 15 MMTPA to 25 MMTPA along with installation of Polypropylene Unit and Catalytic Dewaxing Unit at an estimated cost of Rs.32,946 Crore. The project is expected to be commissioned by September 2024.
The capacity expansion would improve the operational flexibility of the Refinery to meet the domestic energy demand and would also enhance the petrochemicals intensity. The increased production of petrochemicals and value added specialty products would not only improve the margins but also de-risk the conventional fuel business of the company.
Read more about Indian Oil Corporation Ltd stays supported on Business Standard. Indian Oil Corporation Ltd is quoting at Rs 101.05, up 3.16% on the day as on 12:49 IST on the NSE. The stock is down 6.74% in last one year as compared to a 29.53% jump in NIFTY and a 36.25% jump in the Nifty Energy index.
Toggle navigation
Cochin Port Trust signs MoUs for developing a Free Trade Warehousing Zone (FTWZ), a Cryogenic Warehouse and an Aviation Fuel Terminal.
Cochin Port Trust signs MoUs for developing cryogenic warehouse, aviation fuel terminal ANI | Updated: Feb 25, 2021 23:15 IST
Kochi (Kerala) [India], February 25 (ANI): The Cochin Port Trust on Thursday signed three Memoranda of Understanding (MoUs) with stakeholders for developing a Free Trade Warehousing Zone (FTWZ), a Cryogenic Warehouse and an Aviation Fuel Terminal as a part of Maritime India Summit 2021 .
According to a statement issued by the Cochin Port Trust, to develop the FTWZ proposed at Vallarpadam, the MoU has been signed with M/s IGTPL, the operator of ICTT, Vallarpadam.
LPG prices again hiked by Rs 25, third time in February - So far this month, the price of 14.2 kg household LPG cylinder has been hiked by Rs 100. Earlier, the price were increased on Feb 4 and Feb 14.
Cochin Port signs three MoUs for projects
Updated:
Updated:
Share Article
AAA
As part of the Maritime India Summit 2021, Cochin Port Trust signed three MoUs on Thursday with stakeholders for developing a free trade warehousing zone (FTWZ), a cryogenic warehouse, and an aviation fuel terminal.
The FTWZ proposed at Vallarpadam at a cost of ₹85 crore will facilitate storing, handling and rendering value added services for both dry and cold storage of cargo and help generate jobs for at least 50 persons, a release said. The FTWZ will be developed by IGTPL, the operator of ICTT, Vallarpadam.
The cryogenic warehouse proposed at Puthuvypeen at a cost of ₹30 crore will provide cold storage facility for items such as marine products, meat, vegetables, fruits, and pharmaceutical products and help to generate employment to at least 65 persons, for which MoU has been signed with DP World. Land for developing the warehouse will be awarded through tender.