More Indian Oil approves investment proposals

The Board of IndianOil at its meeting held on 10th October 2018 has accorded approval for the following:

1. Investment approval for City Gas Distribution projects in 7 Geographical Areas won by IndianOil in gth Round CGD Bidding

IndianOil has won the Bidding for implementation of City Gas Distribution (CGD) for 7 Geographical Areas viz. Coimbatore District, Salem District, Bokaro District, Rewa District, Aurangabad District, Guna District and Jagtial District. The Board has approved the estimated total capital investment of Rs. 5463 Crore on implementation of the CGD projects. The investment in CGD business will help lndianOil to expand and consolidate its gas business.

2. Investment proposal for production of Ethanol from PSA off Gas based on LanzaTech Gas Fermentation Technology at Panipat Refinery

Installation of facilities for production of Ethanol from PSA Off Gas of Hydrogen Generation Unit (HGU) at Panipat Refinery using Gas Fermentation Technology of LanzaTech USA at an estimated cost of Rs. 520 crore. Read More

Indian Oil