Indian Oil Corporation to Expand Haldia POL Terminal

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Researched by Industrial Info Resources (Delhi, India)--Indian Oil Corporation Limited (IOCL) (BSE:530965) (New Delhi, India) has firmed up a plan to expand the capacity of the Haldia refined products terminal in West Bengal. The petroleum oil lubricant (POL) terminal presently has a capacity of 19,350 kiloliters, which has been proposed to be augmented to 20,100 kiloliters.

The capacity expansion involves setting the up of facilities including an automated tank truck loading gantry of eight bays, nine storage tanks for products such as, high-speed diesel, superior kerosene oil, motor spirit, ethanol, furnace oil and lube oil. The cost of expansion has been estimated to be $9 million.

IOCL has awarded the contract for the storage tanks along with associated civil work to Steeltech System Limited (Haldia, West Bengal). Construction work is expected to begin in August 2012. The project is scheduled for commissioning in June 2013.

Indian Oil Corporation is expanding business in the petroleum sector in India by setting up many grassroot projects and through the expansion of existing facilities. IOCL is planning to lay POL pipelines to cater to the demand in the petroleum sector in the northern and eastern parts of India by supplying POL products from IOCL's upcoming refinery in Paradeep.

According to IOCL, the proposed Paradip-Raipur-Ranchi Pipeline would ensure the transfer of products from Paradip Refinery and uninterrupted supply to major parts of the Orissa, Chhattisgarh and Jharkhand.

Indian Oil is India's largest oil marketing company; the business segments of IOCL include refinery, pipelines, marketing, petrochemical, natural gas and exploration and production. The company controls 10 of India's 20 refineries. The IOCL group has a refining capacity is 65.7 million metric tons per annum or 1.30 million barrels per day. This is the largest share among refining companies in India. It accounts for 34.8% share of national refining capacity.

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