IOC to invest Rs 700 cr in North East India

Surajit Khaund
GUWAHATI, Feb 24 – In a bid to smoothen supply of LPG and cover more areas by retail outlets, the Indian Oil Corporation (IOC) Limited has lined up investments to the tune of Rs 700 crore in the Northeast. Talking to The Assam Tribune here today, Subrato Ghosh, the newly appointed Executive Director of IOC (North East Integrated State Office), said that funds would be spent on modernisation of the existing retail outlets, upgradation of LPG bottling plants and shifting of depots. “In view of growing demand for fuel, nearly 300 retail outlets will be modernised in the next fours years. Moreover, we are planning to open 70 more new outlets in next three years in the Northeast to cover more areas,” he said while providing feedback on the future plans for the region.

In this context, he said that IOC has taken a number of steps for shifting of depots to avoid oil pilferage. “As part of our plan, we will be investing about Rs 140 crore for shifting of Tinsukia terminal to Digboi. Similarly, another Rs 200 crore will be spent in Imphal and Agartala,” he informed.

On perennial shortage of LPG encountered by the consumers in the region, Ghosh said that to overcome the problem, the existing 12 LPG bottling plants would be converted by new electronic system. “The steps have been initiated to provide smooth supply of LPG among the consumers. The new technology will also provide maximum output from the plants,” he added. The Executive Director, however, said that the total demand for LPG in the region is around 23,000 MT per month, and the IOC has taken a slew of measures to narrow down the demand-supply gap. “After complete conversion of the existing LPG bottling plants, we will have sufficient stock. This is a new technology in which we are pumping about Rs 100 crore into the project,” Ghosh claimed.

Asked about the impact of frequent bandhs and blockades in the Northeast, he said that IOC has to take extra measures so that consumers are not affected. “But, any agitation generally affects normal functioning of service,” he added. source: assam tribune