IOC announces Rs 9,028 crore Mundra-Panipat crude pipeline project

State-run Indian Oil (IOC) on Thursday said it is setting up a new crude oil pipeline system with a nameplate capacity of 17.5 million tonne per annum (MTPA) from the port city of Mundra in Gujarat to its Panipat refinery in Haryana. The estimated cost of the project is Rs 9,028 crore, which also includes installing nine crude oil storage tanks of 60,000 kilolitres each at Mundra.