Indian Oil Corporation (IOC) has inked pact with Tamil Nadu Industrial Development Corporation (TIDCO) for Rs 4,500-crore integrated LNG terminal at Katupalli, near Chennai. It is likely to start awarding contracts in three months time. TIDCO is likely to take a 5-10% equity stake in the terminal.
The Indian Oil Group of companies owns and operates ten of India's 20 refineries with a combined refining capacity of 60.2 million metric tonnes per annum (MMTPA, .i.e. 1.2 million barrels per day). These include two refineries of subsidiary Chennai Petroleum Corporation.
