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IOC plans Paradip-Haldia pipeline

By Our Staff Correspondent

KOLKATA SEPT. 4. Indian Oil Corporation has firmed up a plan to set up crude pipeline from Paradip in Orissa to Haldia and Barauni refineries in West Bengal and Jharkhand. Estimated to cost Rs. 400 crores, the project was cleared by the company's board to save the two loss making refineries.

Expressing deep concern over the working of both refineries, IOC Chairman, S. Ramachandran, said high crude handling costs of Haldia Port was responsible for the poor financials of its Haldia and Barauni refineries.

"As large oil tankers cannot enter Haldia Port, we end up paying Rs. 500 more per tonne of crude as freight charges here as against that in the West coast. This is too prohibitive and the biggest hurdle in turning around the refineries. To reduce cost we have planned to bring the crude through pipeline from Paradip and will be followed up with the augmentation of capacity of the Haldia refinery from six to seven million tonnes".

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