IndianOil to invest over Rs 500 cr in R&D
New Delhi   14-Mar-2008
IndianOil is investing close to Rs 500 Crore during the five-year period 2007-12 to maintain its leadership position in downstream R&D of the hydrocarbon sector, according to IndianOil Chairman, Mr Sarthak Behuria. Speaking at the 6th International Symposium on Fuels & Lubricants (ISFL-2008) hosted by IndianOil's R&D Centre here, Mr Behuria said that IndianOil, has till date invested close to Rs 1,000 crore in setting up world-class facilities at its R&D Centre located at Faridabad. The Centre is now focussing on research on new areas like residue gassification, coal-to-liquid and gas-to-liquid processes, petrochemicals, synthetic lubricants, nano-technology, etc., he added. ISFL-2OO8 the three-day technical extravaganza, Mr Dinsha Patel, Minister of State for Petroleum & Natural Gas, in the presence of Mr Sarthak Behuria, Chairman, IndianOil, and Functional Directors. The theme of ISFL-2008 was 'Fuels and Lubricants: Evolving Trends for Sustainable Development’. The event also coincided with the 37th Foundation Day of IndianOil R&D Centre. Dr APJ Abdul Kalam, former President of India, who delivered the 37lh Foundation Day lecture of the R&D Centre on the inaugural day of ISFL-2008, highlighted various thrust areas for research to achieve energy independence and urged the scientists gathered at the symposium to pool in their capabilities in accelerating R&D efforts in bio-fuels. Dr Kalam advised IndianOil's R&D team to realign research into alternative fuel areas by increasing investments in R&D projects. The Centre is spearheading the development and commercialisation of green energy options ethanol-blended petrol, bio-diesel, Hydrogen and Hydrogen-CNG mixture. I hope this three-day Symposium will play an important role in addressing the immediate concerns of the downstream petroleum industry," he added.