IOC board clears Rs 2,449 crore gas pipeline project
The board of directors of Indian Oil Corporation (IOC) has approved an investment of Rs 2,448.70 crore for the construction and operation of a 424.65-km natural gas pipeline connecting Kochi in Kerala with Thoothukudi in Tamil Nadu, according to a regulatory filing on Monday.
The Kochi-Kanyakumari-Thoothukudi Pipeline (KTPL) will run from Kochi to Thoothukudi and have a system capacity, including common-carrier capacity, of 6.84 million standard cubic metres a day (mmscmd), the company said.
At least 1.71 mmscmd of the pipeline’s capacity will be available as common-carrier capacity, allowing third parties access to the network in line with applicable regulations. The investment approval was granted at the board meeting held on Monday, the company said.
The project will strengthen the natural gas pipeline network along India’s southern coast, connecting gas infrastructure in Kerala with demand centres in southern Tamil Nadu.
