IOC to build Madurai line

According to Mr A.M.Uplenchwar, IOC director (pipelines), “The work has been initiated for the construction of the pipeline and we intend to complete the project in 24-30 months from now, in two phases.” He said that Petronet has told them that it could not raise the funds from financial institutions for the implementation of the pipeline project. He further said; “We are facing no such problems and have decided to take up the project, which is valuable for us due to expansion of refinery capacity of Chennai Petroleum Corporation.”

The capacity of Chennai refinery is being enhanced by three million tonnes (MT) per annum to 10.5 MT at a cost of RS 26 billion ($530.6 million). The additional capacity would be on stream by 2004.

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