IOCs Rs 36 crore facility

CHENNAI: The Indian Oil Corporation on Monday inaugurated a Rs 36.6-crore state-of-the-art augmented lube oil bulk storage facility at Tondiarpet.The facility was launched by Company chairman R S Butola. The terminal will mainly cater to bulk volume customers of lube base oils. The facility will commence operations with an initial throughput of 4,000 tonnes per month, which will be gradually raised to 8,000 tonnes per month with the addition of more grades such as process oils, etc. Spread across 2.85 acres, the facility will replace the prevailing system of using the facilities of Chennai Petroleum Corporation Limited (CPCL), a subsidiary of Indian Oil, for sale of bulk lube base oils.