IOCL To Set Up A Research And Development Project At IMT Faridabad

Chandigarh, June 24, 2015: India's flagship national Oil Company, the Indian Oil Corporation Limited (IOCL) would set up a Research and Development Project at Industrial Model Township (IMT) Faridabad. The IOCL will invest Rs.300 crore   in the next two years and Rs.900 crore by the year 2019.  

While stating this here today, Haryana Industries Minister, Captain Abhimanyu said that   the decision to approve the proposal of the IOCL  has been  approved by the Higher Level Plot Allotment Committee constituted by the State Government under the Chairmanship of Principal Secretary Industries, Mr. Devender Singh to  consider the allotment of prestigious projects having an investment of Rs.30 crore and above.

A spokesman of the HSIIDC said that the committee had approved the proposal of IOCL for allotment of 59.32 acres of land in IMT Faridabad out of which 43.74 acre is for industrial use and 15.58 acre for institutional use. The IOCL will utilise 43.74 acres of land for setting up Demonstration Scale Manufacturing Plant including pilot plants based on their technology and CARE facilities like Solar Plants, Gasification Plants and Bio-energy related units. The land measuring 15.58 acre will be used for laboratories, research facilities, administrative facilities, visitors centre, academic activities etc.

The IOCL’s business interest included entire 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. The IMT Faridabad, one of the flag ship Industrial townships developed by HSIIDC located on the Delhi - Agra highway (NH-2)over an area of 1800 acres. The Corporation has carved out 820   plots of different sizes. A number of companies have been allotted industrial plots for setting up of their units in this township.Prominent amongst these are   Banaskantha Co-operative Milk Producer (Amul), Glen Appliances Pvt. Ltd., TalbrosEngg. Ltd. And Victora Auto Pvt. Ltd. / (SK Vyas, Jalandhar)