OIL & GAS

IOC says to expand Barauni refinery as part of Rs 2.05 lakh crore projects under implementation

State-owned Indian Oil Corp (IOC) on Thursday said it is investing Rs 14,800 crore in expanding the capacity of its Barauni refinery in Bihar as part of over 2,800 projects being executed under the Aatmanirbhar Bharat campaign to boost domestic manufacturing and create jobs.

“IOC is currently executing 2,814 projects with a cumulative investment of Rs 2,05,100 crore,” the company said in a statement.

“The projects will generate a total of 217.7 lakh man-days of employment in fiscal 2020-21.”

A total amount of Rs 818.35 crore was paid till August 15 to workers engaged in various ongoing projects, generating about 54.6 lakh man-days of work.

“Reiterating its focus on ‘Aatmanirbhar Bharat’ (self-reliant India), IOC has ramped up activities across all its project sites while strictly following the COVID-19 health advisories. These mega projects will ensure the nation’s energy security as the Indian economy prepares to bounce back,” the statement said.

Out of the 2,814 projects under execution, 622 projects worth Rs 1.18 lakh crore pertain to its refineries division.

Source
ET Energy World
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