IndianOil resumes work on projects worth over ₹21,000 crore
Indian Oil Corporation has resumed work on some its projects and is preparing to ramp up operations towards normalcy post-lockdown.
“While global cues and the changing market scenario will guide its future strategy, the Corporation has already built up stocks of finished products, including petrochemicals, at its upcountry locations for future-readiness once the countrywide lockdown is lifted and the demand picks up again with resumption of economic activity,” said IndianOil in a statement.
The Corporation has resumed work on 64 select projects with a combined allocation of about ₹21,375 crore, of which work commenced on 29 projects on April 20.
Major projects on which work has resumed include the ₹3,338-crore Paradip-Hyderabad products pipeline, and the ₹6,025-crore Ennore – Tiruvallur -Bengaluru -Puducherry – Nagapattinam – Madurai – Thoothukudi R-LNG pipeline.
Work has also restarted on other projects such as grassroot LPG bottling plants, bulk storage terminals/depots, city gas distribution projects and additional facilities/tankage at existing locations.
IndianOil said that critical locations of the Corporation continued operating during the lockdown period. The company said that 420 of its 423 supply and distribution locations are functioning with optimised manpower under the advisories of respective State governments and local administrations.
IOCL’s LPG sale during April 1-April 20 was 696.6 thousand tonnes, up by over 19.6 per cent from the same period last year. To meet this rise in demand, IndianOil has tied up additional LPG imports by almost 50 per cent, and its 98 LPG bottling plants are working extended hours, operating night shifts and on public holidays/Sundays, the company said.
IndianOil teams have been delivering, on an average, 26 lakh cylinders every day to the doorsteps of customers in spite of the lockdown. Additionally, the Corporation has ensured delivery of LPG cylinders to 1.1 crore families who are Pradhan Mantri Ujjwala Yojana (PMUY) beneficiaries, during this period, the statement added.