Reiterating its focus on ‘Atmanirbhar Bharat’, Indian Oil Corporation Ltd. (IndianOil) has ramped up activities across all its project sites while strictly following the COVID-19 health advisories. These mega projects will ensure the nation’s energy security as the Indian economy prepares to bounce back.
Indian Oil is currently executing 2814 projects spread across the country with a cumulative cost of Rs.2,05,100 Crores. Out of these, the Refineries division of IndianOil has 622 ongoing new projects with a total outlay of Rs.1,18,141 crores. In the current financial year, already over Rs.818.35 crores have been disbursed to the workers engaged in these ongoing projects.
To meet the future energy demands needed to boost the Indian economy, IndianOil is augmenting the capacity of its Barauni Refinery from 6.0 to 9.0 MMTPA at an estimated cost of Rs.14,810 crores. This capacity augmentation project alone would generate over 9 lakh man-days of work during the current FY.
Other IndianOil projects also include the EnnoreThiruvallur-Bengaluru-Puducherry-Nagapattinam-Madurai-Tuticorin Gas Pipeline with a total project cost of Rs.6025 crores. Over 50% of this project has already been completed and has generated over 3 lakh man-days in the current fiscal. Over 50% of the Rs.5,654 crores Mono Ethylene Glycol (MEG) project at Paradip Refinery is completed. The 3,338 Crores worth Paradip-Hyderabad Pipeline is also nearing completion with over 80% of the project already completed. This project has generated over 2 lakh man-days in the current fiscal.
Minister of Petroleum and Natural Gas & Steel Dharmendra Pradhan, while reviewing the on-going projects of IndianOil, appreciated how Petroleum Industry has turned ‘crisis into opportunity’. He also advised the Oil & Gas majors to work on mission mode to generate employment and revive growth.
Reiterating IndianOil’s commitment to the energy security of India, Shrikant Madhav Vaidya, Chairman, IndianOil said that IndianOil’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 3696 crores.
Other important upcoming IndianOil projects are LPG import facility at Paradip (estimated cost Rs.690 crores); Grassroot POL Terminal at Atchutapuram (estimated cost Rs.466 crores); Additional facilities at Ahmednagar for conversion to ToP on Koyali – Manmad – Ahmednagar – Solapur Pipeline (estimated cost Rs. 273 Cores); NCU expansion along with revamping of MEG & BEU units of Panipat Refinery (estimated Cost Rs.1,636 crores); Infrastructure facilities at Gujarat Refinery & Dumad for Koyali-Ahmednagar-Solapur Pipeline (estimated cost of Rs.906 crores) and 2G Ethanol Plant at Panipat Refinery (estimated cost of Rs.909 Crores).
To sum up, about 54.6 lakh man-days of work have been generated by IndianOil projects in the current financial year up to 15 August 2o2o. A total of 217.7 lakh man-days of employment would be generated through these projects during the FY 2020-21. These projects are crucial for addressing future energy demands as well as employment generation while kickstarting the Indian economy.