IOC to invest about Rs 1,000 cr in Kerala by 2016-17

Public sector Indian Oil Corporation (IOC) will invest about Rs 1,000 crore by 2016-17 in Kerala to set up various facilties, including an integrated Rs 600-crore LPG import facility at nearby Puthuvypeen.
The Puthuvypeen project, which will have a capacity of 0.6 million tonnes per annum, is scheduled to be commissioned by 2016-17 to meet the requirements of Kerala and neighbouring states, IOC General Manager (Kerala and Lakshadweep) told reporters here.
A 400-km cross country LPG pipeline from the LPG import terminal at Puthuvypeen to Kochi Refinery Ltd and to Salem via Coimabtore, to be set up at Rs 500 crore investment, has also received approval and work on the same is expected to start by the year end, he said.

These two projects, when completed, are expected to significantly reduce road movement of bulk LPG, he said.
"We are also enhancing capacity in bottling plants, augmenting storage facilities with an investment of Rs 100 crore," he said.
IOC has also apporached the state government for land to construct a Rs 100 crore depot in Thiruvananthapuram.

"Our efforts to invest in Kerala will continue. IOC has also invested in Petronet LNG plant here. We are concerned about the investment as laying of GAIL pipelines (in parts of Kerala and Tamil Nadu) was taking time. We are seeking the assistance of Kerala and Tamil Nadu governments," he said.

On charges that IOC had not adequately compensated victims of the Chala accident in Kannur district, where several people were killed when an LPG bullet truck overturned and went up in flames on August 27 2012, he said IOC had handed over a cheque for Rs 2.6 crore to the state government.
Asked about the bullet truck accident at Haripad in Alappuzha district yesterday, he said the public sector oil marketing companies -- IOC, BPCL and HPCL have established a mutal aid scheme to attend to exigencies arising out of highway accidents involving LPG and POL tank trucks operating in Kerala.

Hence, irrespective of the contract of the tank-truck with any OMC, the nearest OMC establishment attends to the incident without any delay, he said.