A senior company official said on Tuesday that Indian Oil Corporation has planned to invest over Rs2,200 crore in Tamil Nadu over the next two years for major grassroots and expansion projects.
Among the projects are a 'grass-roots terminal' at Asanur and Vallur, a 'captive petroleum' project, and an oil and lubricant-LPG jetty at Kamarajar port, according to V C Asokan, executive director and Tamil Nadu State Head of Indian Oil Corporation Ltd.
Apart from the ongoing projects in the Ennore-Tiruvallur sector, the Bengaluru-Puducherry-Nagapattinam-Madurai-Turicorin gas pipeline, and augmentation of the Chennai-Tiruchirappali-Madurai pipeline projects, the company would also take up the work for setting up the integrated Lube complex at Ammulaivoyyal village on the outskirts of Chennai.
The senior official stated that a joint venture with the Israeli technology company Phinergy to manufacture and commercialize aluminum-air technology as an alternative to lithium batteries would be ready in six months and that a tripartite agreement had recently been signed.
He stated that the company had achieved 10% ethanol blending with petrol in Tamil Nadu and Puducherry and was working to increase it to 20% in accordance with the Centre's mandate.
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