Rs 1000 Crore to Be Invested By IOC in Kerala in Future

Published on: 31 Jan, 2014
Published under: Kerala Business News

31 January 2014
Kochi

Indian Oil Corporation will be investing about Rs 1000 crore by 2016-17 in Kerala for various projects. It includes Rs 600-crore LPG import facility at nearby Puthuvypeen.

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.

IOC has also approached the state government for land to construct a Rs 100 crore depot in Thiruvananthapuram.

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.

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