Indian Oil Approves ₹2,448.70 Crore Gas Pipeline; Shares Rise 0.07%

Mumbai September 21: Indian Oil Corporation Limited has approved an investment of ₹2,448.70 crore for laying, building and operating the 424.65-km Kochi-Kanyakumari-Thoothukudi Natural Gas Pipeline in Tamil Nadu and Kerala.

The investment approval was granted by the company’s Board at its meeting on September 21, 2026, according to the exchange disclosure.

Indian Oil Approves 424.65-Km Natural Gas Pipeline

As per the regulatory filing, the pipeline will run from Kochi to Thoothukudi and will have a total length of 424.65 km.

The system is planned with a capacity of 6.84 MMSCMD, including the common carrier capacity. The common carrier portion will be at least 1.71 MMSCMD.

The project covers the laying and construction of the pipeline, along with its subsequent operation. Indian Oil has estimated the total project cost at ₹2,448.70 crore.

Stock Market Snapshot

The Indian Oil share price stood at ₹137.10, up ₹0.10 or 0.07%, as of 3:15:15 PM IST on September 21, 2026, according to the market data shown.

The stock remained largely range-bound through most of the session. After opening trade saw some volatility, the shares moved around the ₹136 to ₹137 range before gaining ground after 1 PM.

The stock touched levels above ₹137 during afternoon trade and was at ₹137.10 at the latest available timestamp.

Pipeline To Have 6.84 MMSCMD Capacity

The proposed Kochi-Kanyakumari-Thoothukudi pipeline is designed with a total system capacity of 6.84 MMSCMD.

Of this, at least 1.71 MMSCMD will be available as common carrier capacity. The project is therefore being developed with provision for shared pipeline usage alongside Indian Oil’s own requirements.

The company has not disclosed a separate project commissioning timeline in the exchange filing.

₹2,448.70 Crore Investment Approved By Board

The Board approved the investment at its meeting held on September 21, 2026.

The meeting commenced at 11:00 AM and concluded at 1:15 PM, according to the filing.

The approval covers the laying, building and operation of the natural gas pipeline, with the estimated project cost set at ₹2,448.70 crore.

Indian Oil Expands Natural Gas Infrastructure

The pipeline project adds to Indian Oil’s infrastructure development in the natural gas segment.

A dedicated pipeline connecting Kochi with Kanyakumari and Thoothukudi is expected to strengthen the network for transporting natural gas along the route. The planned common carrier capacity also provides for access to other eligible users of the pipeline network.

The project forms part of Indian Oil’s broader infrastructure activities across the energy value chain.

Conclusion

Indian Oil Corporation has approved a ₹2,448.70 crore investment for the 424.65-km Kochi-Kanyakumari-Thoothukudi Natural Gas Pipeline.

The pipeline will have a system capacity of 6.84 MMSCMD, including at least 1.71 MMSCMD of common carrier capacity. The Board cleared the investment at its September 21, 2026 meeting.

Meanwhile, the Indian Oil share price stood at ₹137.10, up ₹0.10 or 0.07%, as of 3:15:15 PM IST on September 21, 2026.

Source:

• https://www.nseindia.com/get-quote/equity/IOC/Indian-Oil-Corporation-Limited
• https://nsearchives.nseindia.com/corporate/IOC_21092026133341_2026_09_21_Investment_approval_KTPL_S.pdf