Indian Oil Corporation Limited to set up new crude oil pipeline system

The Board of IndianOil at its meeting held on 20th December 2021 has accorded approval for investment proposal of new crude oil pipeline system with nameplate capacity of 17.5 MMTPA from Mundra to Panipat alongwith with augmentation of crude oil tank farm at Mundra, at an estimated cost of Rs.9,028 crore. The project will meet the enhanced crude oil requirement arising out of capacity expansion of Panipat Refinery from 15 MMTPA to 25 MMTPA.

The project is expected to be completed within 36 months and would be synchronized with the commissioning of Panipat Refinery expansion project.

Shares of Indian Oil Corporation Limited was last trading in BSE at Rs. 108.90 as compared to the previous close of Rs. 112.90. The total number of shares traded during the day was 962848 in over 14952 trades.

The stock hit an intraday high of Rs. 112.40 and intraday low of 108.25. The net turnover during the day was Rs. 105664191.00.

Source : Equity Bulls

Keywords

IndianOilCorporation INE242A01010 IOC InvestmentProposal CrudeOilPipelineSystem Mundra Panipat