New Delhi: In the coming years, IOC intends to invest Rs 54000 crore in a number of significant projects in Tamil Nadu. The projects include a new 9 MTPA grassroots refinery in Nagapattinam with CPCL, expected to cost Rs 35580 crore, product pipelines, anticipated to cost Rs 2600 crore, city gas distribution projects, estimated to cost Rs 7570 crore and gas pipes, including those for LPG, estimated to cost Rs 2225 crore.
IOC would also invest 1398 crore to construct the second-largest integrated lubes complex in the world at Anmulvoyyal village, along with a new terminal at Asanur, an airport in Vallur, and a captive LPG jetty at Kamarajar port. Additionally, the corporation would invest Rs 2500 crore in new retail stores and modernising its current ones.
VC Asokan, executive director, and state head, Tamil Nadu & Puducherry, IOC, said, “ For IOC, Tamil Nadu is an important market and we are constantly investing in the state to improve the infrastructure, product offerings and services. IOC has achieved 10% ethanol blending with petrol in Tamil Nadu and Puducherry last year, and we are working towards 20% ethanol blended petrol by 2025 in line with government mandate.”
On the retail front, Asokan stated that IOC has called for establishing 1775 new retail stores in Tamil Nadu and 65 outlets in Puducherry to satisfy the increased demand. With a market share of 56.4% in domestic LPG, 36.8% in petrol and 45% in diesel, IOC dominates the market in Tamil Nadu. He said that the business is discussing green hydrogen distribution with the Tamil Nadu and Kerela state governments and making the fuel available to the transportation sector.
The IOC office in Tamil Nadu serves the fuel needs of 38 districts in the state and two districts in Puducherry through a huge distribution network that includes, among other things, 2826 retail shops, 932 LPG distributors, and 121 CNG outlets.
