Indian Oil Corporation (IOC) has received the stage-I approval from its Board of Directors for the construction of a greenfield terminal at Bihta in Patna, Bihar, on Barauni-Kanpur product pipeline and Patna-Motihari-Baitalpur Pipeline. The project will involve re-sitement of the existing marketing terminal and pipeline pump station in Patna. It will have an estimated cost of Rs 16.9867 billion
In a regulatory filing to the stock exchanges, Indian Oil said, “Pursuant to Regulation 30 read with Part A of Schedule Ill of SEBI (LODR) Regulations 2015, it is hereby informed that the Board of IndianOil at its meeting held on 30th July 2024 has accorded stage – 1 approval for construction of Greenfield Terminal at Bihta, Patna, Bihar on Barauni-Kanpur product Pipeline (BKPL) and Patna-Motihari-Baitalpur Pipeline (PMBPL) at an estimated cost of Rs. 16.9867 billion as combined re-sitement of existing Marketing Terminal and Pipeline pump station in Patna and for undertaking pre-project activities related thereto.”