Mumbai: Indian Oil Corporation has announced that it is to set up a Rs 170 crore ($42.9m) LPG import facility on the land allotted to it by Cochin Port Trust, writes the Hindu Business Line.
The project will boast a capacity of 600000 tonnes per annum and is expected to take 30 months to complete subject to the clearances from various statutory authorities such as the State Government, the Pollution Control Board and the Environment Ministry before starting the construction work.
The facility is expected to cater to South Indian LPG demand, particularly from Kerala and Tamil Nadu, and provide a viable alternative to the current process of importing the gas through Mangalore. [23/01/08]
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