IOCL and CONCOR to invest in Haryana
The Haryana Government has recently granted Regular Letters of Allotment to CONCOR and IOCL, giving them access to more than 90 acres of land. An investment of about 1,250 crore is expected from the two firms.
The Indian Oil Corporation Ltd (IOCL) and Container Corporation of India Limited (CONCOR) will soon be investing in Haryana. Chief Minister Manohar Lal Khattar handed over Regular Letters of Allotment (RLA) of land to set up a Research and Development Project of IOCL at Industrial Model Township (IMT), Faridabad and Rail Linked Multi Modal Logistics Park (MMLP) of CONCOR in Industrial Estate Barhi, near Ganaur. Both these projects need an investment of
1,250 crore and can generate employment for 7100 persons. The RLAs were received by R. Prabhu, Executive Director, IOCL and Anil Kumar, Chief Managing Director, CONCOR in Chandigarh.
Haryana State Industrial and Infrastructure Development Corporation (HSIIDC) has allotted 59.32 acres of land to IOCL and about 37 acres has also been allotted to CONCOR.
As India's flagship oil company, IOCL’s business interests encompass the hydrocarbon value chain from refining, pipeline transportation and marketing of petroleum products to exploration and production of crude oil and gas, marketing of natural gas and petrochemicals. Out of 59.32 acres of land allotted to IOCL, the company will utilise 43.74 acres for setting up of Demonstration Scale Manufacturing Plant. Around 15.58 acres will be used for laboratories, research facilities, administrative facilities, visitors centre and academic activities. IOCL will invest around
300 crore in the next two years and about 900 crore by 2019.
CONCOR, a Navratna Public Sector Undertaking, is going to invest
350 crore in ICD/Dry Port, Domestic Container Terminal and Rail Freight Terminal with Warehousing Complex in Sonipat – Gannaur – Panipat area falling on Delhi – Ambala – Kalka section of Northern Railway to facilitate reduction in logistics costs and provide the EXIM trade faster and cheaper access to the North Western and Western Gateway Ports.