Hotline: 1800 102 2007
X
Search Business Opportunities
Aug, 07 2018

Indian Oil to invest Rs 1.75 lakh crore for expansion: Chairman Sanjiv Singh

Several pipeline projects with a combined capital expenditure of over Rs 20,000 crore are under implementation.

Country’s leading firm on the Fortune 500 list, Indian Oil Corporation has drawn up an ambitious Rs 1.75 lakh crore investment plan to expand its production capacity. In the company's latest annual report, IOC chairman Sanjiv Singh said that the refining capacity will be enhanced to 150 million tonnes of petroleum products per annum by 2030 from the current 80.7 million tonnes.

The company currently owns 11 out of the 23 oil refineries in the country.

"As the leading refiner in the country and a dominant player across a diverse portfolio of offerings in energy, IOC is focussing on all emerging opportunities for organic and inorganic growth through vertical integration and strategic diversification, besides pursuing value-creating research areas," Singh said.

"As part of this, projects costing Rs 32,000 crore are in various stages of execution and plans are underway for implementing more projects costing about Rs 1.43 lakh crore," he added.

The current investment cycle includes Rs 16,628 crore in upgrading refineries to produce Euro-VI emission norm compliant petrol and diesel by 2020 as against Euro-IV fuel being produced now.

Singh said plans to nearly double refining capacity by 2030 include greenfield refineries of subsidiary Chennai Petroleum Corp Ltd (CPCL) and the proposed Ratnagiri Refinery & Petrochemicals Ltd (RRPCL), apart from numerous brownfield expansions.

RRPCL is building the world's largest integrated Greenfield refinery-cum-petrochemicals complex with a capacity of 60 million tonnes per annum. The project is being executed in partnership with state-owned BPCL and HPCL along with Saudi Aramco and ADNOC of UAE.

Several pipeline projects with a combined capital expenditure of over Rs 20,000 crore are under implementation.

Upon completion, IOC's pipeline network would expand to about 20,000 km in length, he said, adding a 69-km pipeline is also being laid to transport petroleum products to Nepal.

Besides, the company is investing Rs 15,600 crore in expansion of petrochemical projects and another Rs 74,600 crore in raising the capacity of its existing refineries.

Another Rs 36,500 crore worth of projects are in pipeline but have not been approved by the board as yet.

Comment
Related opportunities
  • Skills / Personality Development
    About: WINNERS is privately owned and managed by Mr. Shashikant Khamkar (B.Com...
    Locations looking for expansion Maharashtra
    Establishment year 2006
    Franchising Launch Date 2017
    Investment size Rs. 5lac - 10lac
    Space required 100
    Franchise Outlets -NA-
    Franchise Type Unit, Multiunit
    Headquater Mumbai Maharashtra
  • Three wheeler (Auto) showroom
    About Us: Funded by Paytm, rocketship.vc & Snow Leopard Technology Ventures,..
    Locations looking for expansion Chandigarh
    Establishment year 2014
    Franchising Launch Date 2018
    Investment size Rs. 2lac - 5lac
    Space required 00
    Franchise Outlets -NA-
    Franchise Type Unit, Multiunit
    Headquater Chandigarh Chandigarh
  • Quick Service Restaurants
    About Us: The only nationalised Chinese wok Quick Service Restaurant (QSR)..
    Locations looking for expansion Delhi
    Establishment year 2017
    Franchising Launch Date 2018
    Investment size Rs. 10lac - 20lac
    Space required -NA-
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater New delhi Delhi
  • Others Health Care & Fitness
    About Us: Tecfit20, a venture of emtstecfit20 pvt ltd, is the..
    Locations looking for expansion Delhi
    Establishment year 2017
    Franchising Launch Date 2018
    Investment size Rs. 50lac - 1 Cr.
    Space required 350
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater New delhi Delhi
Insta-Subscribe to
The Franchising World
Magazine
For hassle free instant subscription, just give your number and email id and our customer care agent will get in touch with you
OR Click here to Subscribe Online
Daily Updates
Submit your email address to receive the latest updates on news & host of opportunities