Customer and Sustainable Development are in sharp focus in the annual MoU between Indian Oil Corporation Ltd. (IndianOil) and the Government of India for the year 2010-11. The document was signed here today by Mr. S Sundareshan, Secretary, Ministry of Petroleum and Natural Gas, and Mr. B M Bansal, Chairman, IndianOil.
Drawing from the 'Oil Sector Vision 2015' document of the Ministry of Petroleum & Natural Gas, the MoU focuses on customer satisfaction, and expansion in rural areas. Sustainable development practice and innovative R&D approaches are other new areas that find place in the MoU.
In the growth-oriented MoU for the year 2010-11, high priority has been accorded to timely achievement of major milestones in projects. These include the grassroots refinery at Paradip, resid upgradation project at Gujarat, Diesel Hydrotreater at Bongaigaon, additional capacity expansion project at Panipat, fuel quality upgradation project at four refineries, and new pipelines between Chennai-Bangalore and Paradip-New Sambalpur-Raipur-Ranchi, etc.
Chairman, IndianOil has also signed an MoU on similar lines with IndianOil's refining subsidiary, Chennai Petroleum Corporation Ltd.