Indian Oil to spend $ 292 mm on pipelines
Indian Oil Corp (IOC) plans to spend Rs 15 bn ($ 292 mm to add pipelines that will boost annual capacity by 10 mm
tons, a company official said.
"We are aggressive on building pipelines because they are a safe and cheap way of transporting oil and fuels," P.K.
Chakraborti, Indian Oil's director of pipelines, said in New Delhi.
Indian Oil, which is building projects worth Rs 500 bn, plans to add 4,000 km of pipelines to the existing network
exceeding 9,273 km, by 2012, Chairman Sarthak Behuria said in September.
The refiner may add 1,200 km of pipelines by June 2010 and exceed the target of spending of Rs 4.23 bn in the year to
March, Chakraborti said. A natural gas pipeline being laid from Dadri to Panipat may be ready by mid-2009, he said.
