Bihar Business Connect 2024:
Patna, The country’s leading petroleum company Indian Oil Corporation Limited is going to invest Rs 21 thousand crore in Begusarai, Bihar. Executive Director of the company Suman Kumar said that under this investment the capacity of Barauni Refinery will be increased. Also, new pumps will be developed to supply CNG to vehicles in Bihar. PNG network will be established for sale of pipe based natural gas in 27 cities of the state.
CNG stations will open in 27 cities
Speaking at Bihar Business Connect organized in Patna, Suman Kumar said that Indian Oil will increase the current capacity of its refinery located in Barauni from 60 lakh tonnes to 90 lakh tonnes annually. Along with this, the company will also set up a petrochemical plant at a cost of approximately Rs 16,000 crore. Apart from this, CNG pumps for vehicles will be opened in 27 cities of Bihar. PNG network will also be established here to deliver natural gas through pipes to homes and industries. For this, Indian Oil will invest Rs 5600 crore.
Barauni Refinery was established in 1964
He said that Indian Oil Corporation is the oldest investor in Bihar. The company established Barauni Refinery in 1964. Its initial capacity was 30 lakh tonnes annually which was later increased to 60 lakh tonnes. Now we are increasing the capacity to 90 lakh tonnes per year. Along with this, a polypropylene plant with a capacity of two lakh tonnes is also being established. Polypropylene is a raw material in the plastics industry. This plant is planned to be commissioned by the end of 2025.
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