IOC to Invest Over Rs 2,600 Crore for Northeast Expansion

Indian Oil Corporation (IOC) is set to invest over Rs 2,600 crore in establishing new greenfield units and expanding existing facilities across the northeastern region. The IOC board has already granted approval for several new projects, with discussions underway with local governments in Meghalaya, Mizoram, and Manipur to finalize land parcels for the greenfield units. Ganesan Ramesh, IOC Executive Director, emphasized the strategic importance of the northeast for the company and detailed plans to enhance refining and petroleum, oil, and lubricant (POL) storage capacities. 

The company is currently executing approximately twelve projects, totaling an investment of Rs 2,612 crore in the region. Key projects include a Rs 656 crore greenfield depot in Tripura and a Rs 277 crore expansion of the Betkuchi POL depot in Guwahati. Furthermore, IOC is planning capacity expansions for its refineries in Guwahati, Digboi, and Bongaigaon as part of the North East Hydrocarbon Vision 2030 initiative.

In addition to refinery enhancements, the company aims to upgrade the Dimapur depot in Nagaland with an estimated expenditure of Rs 231 crore. Discussions are also underway for setting up greenfield POL depots in Umran, Meghalaya, and Sihhmui, Mizoram. To strengthen LPG bottling infrastructure, IOC is establishing new 30 TMTPA bottling plants in Umiam, Meghalaya, and Mualkhang, Mizoram, with approved costs of Rs 75.54 crore and Rs 193 crore, respectively. IOC currently holds a dominant market position in the northeast, with significant market shares in both petrol and diesel segments. The company's extensive marketing infrastructure comprises 1,427 retail outlets, 467 superior kerosene oil (SKO) dealerships, and 10 bulk storage depots.