IOC to set up R&D centre in Faridabad at Rs 2,282 crore investment

Country’s largest fuel retailer Indian Oil Corporation (IOC) is planning to open its second Research and Development (R&D) facility adjacent to an existing facility in Faridabad, Haryana. This will be done at a cost of Rs 2,282 crore.

To be called IndianOil Technology Development and Deployment Centre, the proposed facility will be spread across 59.32 acres of land in Industrial Model Town in Faridabad, the company said in an application to the environment ministry.

It will house facilities which will research on alternative & renewable energy, industrial bio-technology, nanotechnology, refining technology, petrochemicals, applied metallurgy, pipeline research, catalytic interventions for clean energy processes and carbon nanotube & batteries.

A few days ago, Indian Oil Corporation Director for Refineries S M Vaidya has said its Gujarat oil refinery will be ready to produce 700,000 tonnes per year of low-sulphur marine fuel starting in October.

In his address at the Asia Pacific Petroleum Conference, he said IOC’s Haldia refinery will start in December to produce 300,000 tonnes per year of marine fuels that meet the new low-sulphur specifications, Vaidya said during a speech.

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Research Desk

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