IndianOil plans to commission projects worth Rs 30,000 crore next fiscal
New Delhi   28-Mar-2009
IndianOil has set a target of commissioning projects worth Rs 30,000 crore during the next fiscal. The company has set itself a challenging agenda in the memorandum of understanding (MoU) signed with the Government for the financial year 2009-10, a statement issued by IndianOil said. "IndianOil will commission projects worth Rs 30,000 crore during 2009-10," it said. The projects include a naphtha cracker at Panipat, residue up-gradation project at Koyali Refinery, once-through hydrocracker at Haldia, and Panipat Refinery additional expansion project (12 to 15 MTPA). The MoU was signed between Mr RS. Pandey, Secretary, Ministry of Petroleum and Natural Gas, and Mr. Sarthak Behuria, IndianOil, Chairman, on Saturday. Mr. Behuria said, "We continue to see high growth in demand of petroleum and diesel products and our endeavour remains to meet the total requirement" <b>Ongoing Projects</b> Despite the downturn in the economy, IndianOil continues with its planned projects on schedule, which will help boost the Indian economy, he added. To ensure optimum utilisation of resources and increased operational efficiency in both refineries and marketing divisions, substantial cost reduction at the operational level is a major thrust area of the MoU, the statement said. Continuing its efforts to usher in cleaner fuels, focus will remain on ongoing projects like the residue upgradation project at Koyali Refinery in Gujarat and petrol quality upgradation projects at Panipat; Mathura, Barauni, Guwahati and Digboi refineries, the statement said. The MoU also lays emphasis on physical parameters such as crude oil throughput, energy factor, and project milestones. <b>Jatropha Bio-Diesel</b> A case-specific life-cycle assessment study of Jatropha bio-diesel has been assigned to IndianOil's R&D Centre, which would help compare the impact bf Jatropha bio-diesel on the environment vis-a-vis petrol and diesel for various transportation modes, it added. New parameters included in the MoU relate to Corporate Social Responsibility initiatives, e-procurement and setting up of a network and infrastructure for polymer marketing.