Bhubaneswar: The Indian Oil Corporation Limited's (IOCL) Rs 29,777-crore Paradip refinery project in Odisha to be completed by March 2013. This was informed by Joint Secretary (Refinery) in the Ministry of Petroleum and Natural Gas LN Gupta.He said till the moment IOCL Rs has already been invested 14,000 crore on the project.
Gupta said, this is the first largest investment in the refinery sector in the country, and it is going to be a reality.
Gupta was reviewing the progress of the mega project here on Sunday along with Director of Refinery of IOCL RK Ghosh and Executive Director of IOCL, Paradip, M Vijay Wargiya.
Besides the Rs 29,777-crore cost of the refinery, the IOCL's Paradip project also includes a Rs 1,793-crore pipeline to Raipur and Ranchi. The work of the 1,100-km pipeline is in progress, which would carry the fuel produced in the unit to consumers in Odisha, Jharkhand, Chhattisgarh and Madhya Pradesh. Out of a 660-km pipeline inside Odisha, 600 km of it is being laid smoothly, said sources.
Besides, a marketing terminal at a cost of Rs 414 crore is also being built. Due to a double-digit growth in petrol and diesel consumption, the product would be sold in the domestic market, so there would be very little left for exports, said an official.
The Paradip refinery would produce 5.97 million tonnes of diesel, 3.4 million tonnes of petrol, 1.45 million tonnes of kerosene/ATF, 536,000 tonnes of LPG, 124,000 tonnes of naphtha and 335,000 tonnes of sulphur, all of which would be for sale in the domestic market. Some of 200,000 tonnes of propylene to be produced by the unit may be exported.