Indian Oil to invest Rs 650 crore in Tripura – Feedback

Indian Oil Corporation will invest around Rs 650 crore in expanding its storage and bottling capacity in Tripura over the next three years as it looks to prevent fuel crisis in the state.

Indian Oil-AOD, the company’s North East division, will also start moving a convoy of 20 tankers by the end of this month to the North Eastern state for the first time via Bangladesh to avoid the dilapidated NH-44 in Assam. “Apart from exploring new routes to supply fuel for ending the crisis in Tripura, we are looking to increase the storage capacity in the state. We are working on both the possibilities so that common people do not suffer there,” Indian Oil Corporation Executive Director (Indian Oil-AOD) Dipankar Ray told. For this purpose, the company will set up one Petroleum, Oil and Lubricant (POL) depot and a new bottling plant in Agartala, he added. “The POL depot will incur an investment of around Rs 500 crore, while Rs 143 crore have been estimated for setting up the bottling plant over the next 2-3 years. The investment includes land cost as well and the land parcels have already been identified for both the units,” Ray said.

http://economictimes.indiatimes.com/industry/energy/oil-gas/indian-oil-to-invest-rs-650-crore-in-tripura-send-tankers-via-bangladesh/articleshow/53857715.cms

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