According to company executives, the state-run Indian Oil Corporation Ltd (IOCL) would commission projects in Odisha worth Rs 9,900 crore over the next four months.
Details about IOCL to invest on projects worth of Rs 9900 crore in Odisha
N M Nimje, the company’s chief general manager in Odisha, spoke to the media in this location and stated that up to five important projects are mechanically finished or nearing completion. They include the pipelines from Paradip to Hyderabad, from Paradip to Somnathpur and Haldia, the LPG bottling factory at Khurda, the LPG import terminal at Paradip, and the Mono-Ethylene Glycol project inside the Paradip refinery.
Nimje added that a critical project for the IOCL Paradip refinery’s PX-PTA unit, which produces xylene-purified terephthalic acid, will be completed by the end of the year. For the project, the business has invested Rs 13,806 crore.
The IOCL executives stated that the business has 152 electric vehicle (EV) charging stations in Odisha and that it will add another 100 stations in the years 2023–2024 as part of its efforts to promote green energy.
According to Nimje, the IOCL has been promoting biofuel blending, green hydrogen, and working on the introduction of aluminum-air batteries for electric vehicles in an effort to lessen its reliance on foreign fuels.