IOC okays investments worth Rs. 5,302 crore.

Indian Oil Corporation's board recently approved investments worth Rs. 5,302 crore.

The investments are for setting up a 0.6-million-tonne a year LPG import facility at Paradip, augmentation of the Paradip-Haldia-Durgapur LPG pipeline and laying of the Paradip-Hyderabad product pipeline. 'The product pipeline is proposed for evacuation of the products from the upcoming Paradip Refinery to storage depots in Andhra Pradesh and Telangana,' the company said.

The pipeline having a length of 1,150 km would have a capacity of 4.5 million tonnes a year and the investment required will be around Rs. 2,789 crore.

HBL