Friday, Apr 26 2024 | Time 09:36 Hrs(IST)
image
Business EconomyPosted at: May 24 2018 11:23PM


IOC to invest Rs 1387 cr towards various projects in AP, Telangana

Hyderabad, May 24 (UNI) Indian Oil Corproation (IOC), India's flagship national oil company, will invest
Rs 1387 crore towards various projects including for construction of one each new terminal in Visakhapatnam
and Nalgonda, in the both Andhra Pradesh and Telangana during the next few years.

Addressing in a press conference here on Thursday, Corporation Executive Director (Andhra Pradesh and
Telangana) Rahul Bharadwaj said in Andhra pradesh, we will invest Rs 827 crores and Rs 560 crores in Telangana state during the next two-three years.
As part of investments in Telangana, he said that under greenified projects, acquired 67.33 acres land
in Malkapur village at Choutuppal mandal in Nalgonda district for constlruction of new oil terminal with an
estimated cost of Rs 500 crores and additional 1800 MT LPG Tankage capacity expansion each at Cherlapalli and Thimmapur LPG Bottling plants with Rs 60 crores investment.
However in Andhra Pradesh, the company, under greenfield project, had already acquired 60 acres land
at Atchutapuram in Visakhapatnam for construction of new terminal with an estimated cost of Rs 320 crores
and it will be completed by Dec, 2022.
Acquired 82.77 acres land in Nakkanadoddi at Guntakal in Anantapuram district district for construction of new terminal with an estimated cost of Rs 350 crores and it is also expected to be completed by 2020, he informed.
Besides Vijayawada Terminal augmentation project taking up under brownfiled project, the company also
revamping of the existing Vizag Terminal at a cost of Rs 355 crores and to be completed by Dec , 2022, said Rahul.
Automation of Terminals/Depots , he said India's 1st Smart Terminal at Chittoor -E-lock System proposed at Chittoor Terminal on pilot basis. and the project to be completed in the fiscal.
Out of 9 locations, 6 terminals (Chitoor terminal, Hyderabad Terminal, Vijayawada Terminal , Rajahmundry Terminal, Ongole depot and Ramagundam Depot) are declared Smart Terminals.

Smart Terminal project at Kakinada Terminal under progress and target to complete the project this year while balance 2 locations (Vizag Termibnal and Guntaka Depot) proposed for revamping and resitement, he added.
UNI KNR SHK 2323
Please log in to get detailed story.
Tags: #IOC to invest Rs 1387 cr towards various projects in AP# Telangana
More News

Arun Alagappan appointed as Executive Chairman of Coromandel International

25 Apr 2024 | 7:41 PM

Hyderabad, April 25 (UNI) Arun Alagappan has been appointed as Executive Chairman of Coromandel International Limited (CIL).

see more..

Tech Mahindra net at Rs 661 crore in Q4; Company gives dividend of Rs 28 per share

25 Apr 2024 | 7:28 PM

New Delhi, April 25 (UNI) Mahindra Group company Tech Mahindra, a technology consulting and digital solutions provider, on Thursday reported about 41 per cent decline in net profit at Rs 661 crore year-on-year basis for the fourth quarter ended March 31, 2024.

see more..

Kottayam-Kochi Rubber Market Rates

25 Apr 2024 | 7:26 PM

Kottayam, April 25 (UNI) Following were the Rubber Market rates announced by the Rubber Board here today per quintal.

see more..
Indusind Bank net up 15 pc in Q4

Indusind Bank net up 15 pc in Q4

25 Apr 2024 | 7:10 PM

New Delhi, April 25 (UNI) Leading private bank Indusind on Thursday reported a 15 percent jump in net profit at Rs 2,349 crore in Q4 of FY 2023–24, compared to Rs 2,043 crore in the same quarter in 2022–23.

see more..

25 Apr 2024 | 6:53 PM

New Delhi, April 25 (UNI) Leading private bank Indusind on Thursday reported 15 percent jump in net profit at Rs 2,349 crore in Q4 of FY 2023-24 compared to Rs 2,043 crore in the same quarter in 2022-23.

see more..
image