Indian Oil Corporation will lay a brand-new crude oil pipeline from Mundra to PanipatNew Delhi: Indian Oil Corporation (IOC) has actually said that it will invest Rs 9,028 crore for laying a brand-new crude oil pipeline from Mundra in Gujarat to Panipat in Haryana.The pipeline, which will have a capacity of 17.5 million tonnes per year, will carry imported petroleum from the Gujarat coast to the company's refinery in Haryana, the company said in a statement.

Under this project, IOC would likewise build 9 crude oil tanks of 60,000 kilolitres each at Mundra, which, apart from meeting operational requirements, would help in enhancing petroleum storage capability in the nation.

The total approximated cost of the job is Rs 9,028 crore, it said.IOC said that the brand-new pipeline system and crude oil tank storage would help in meeting the improved need of petroleum requirement due to the growth of the Panipat refinery.

The petroleum pipeline project is expected to be completed in synchronisation with the commissioning of Panipat refinery growth.