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New Delhi: Reiterating its focus on 'Aatmanirbhar Bharat,' Indian Oil Corporation Limited (Indian Oil) has ramped up activities across all its project sites while strictly following the Coronavirus (COVID-19) health advisories. These mega-projects will ensure the nation's energy security as the Indian economy prepares to bounce back.
In a statement, Indian Oil said that is currently executing 2,814 projects spread across the country with a cumulative cost of Rs 2,05,100 crore. Out of these, the refineries division of Indian Oil has 622 ongoing new projects with a total outlay of Rs 1,18,141 crore. In the current financial year, over Rs 818.35 crore have been disbursed already to the workers engaged in these ongoing projects.
Further, to meet the future energy demands needed to boost the Indian economy, Indian Oil is augmenting the capacity of its Barauni Refinery from 6.0 to 9.0 MMTPA at an estimated cost of Rs 14,810 crore. This capacity augmentation project alone would generate over nine lakh man-days of work during the current financial year.
"IndianOil's projects will contribute significantly to employment generation while kickstarting the economy with a focus on 'Aatmanirbhar Bharat" : IndianOil Chairman Shirkant Madhav Vaidya
Other Indian Oil projects, which are currently under implementation, include the EnnoreThiruvallur-Bengaluru-Puducherry-Nagapattinam-Madurai-Tuticorin Gas Pipeline with a total project cost of Rs 6,025 crore. Over 50 percent of this project has already been completed and has generated over 3 lakh man-days in the current fiscal. Over 50 percent of the Rs 5,654 crore Mono Ethylene Glycol (MEG) project at Paradip Refinery is completed. The Rs 3,338-crore Paradip-Hyderabad Pipeline is also nearing completion with over 80 percent of the project already completed. This project has generated over 2 lakh man-days in the current fiscal.
Minister of Petroleum and Natural Gas Dharmendra Pradhan, while reviewing the ongoing projects of Indian Oil, appreciated how the petroleum industry has turned the COVID 'crisis into an opportunity'. He also advised the oil & gas majors to work on mission mode to generate employment and revive growth.
Reiterating Indian Oil's commitment to the energy security of India, Indian Oil's Chairman SM Vaidya said that Indian Oil's projects will contribute significantly to employment generation while kickstarting the economy with a focus on 'Aatmanirbhar Bharat.' The work is also on at full throttle for the 30'' Crude Oil Pipeline in H-B section of PHBPL (Paradip-Haldia- Barauni Pipeline) and conversion of the existing 18" twin pipelines in Haldia- Barauni section from crude to product and gas service. The estimated cost of this project is around Rs 3,696 crore.
Other important upcoming Indian Oil projects are LPG import facility at Paradip (estimated cost Rs 690 crore), Grassroot POL Terminal at Atchutapuram (estimated cost Rs 466 crore), additional facilities at Ahmednagar for conversion to ToP on Koyali-Manmad-Ahmednagar-Solapur Pipeline (estimated cost Rs 273 crore), NCU expansion, along with revamping of MEG & BEU units of Panipat Refinery (estimated cost Rs 1,636 crore), infrastructure facilities at Gujarat Refinery and Dumad for Koyali-Ahmednagar-Solapur Pipeline (estimated cost of Rs.906 crore) and 2G Ethanol Plant at Panipat Refinery (estimated cost of Rs.909 crore).
Overall, about 54.6 lakh man-days of work have been generated by Indian Oil projects in the current financial year up to August 15. A total of 217.7 lakh man-days of employment would be generated through these projects during the FY2020-21. These projects are crucial for addressing future energy demands as well as employment generation while kickstarting the Indian economy.
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