Sirka Pyaaz – The Galaxy's Leading Satire Tri-monthly

Indian Oil Corporation Commissions Phase-I of Mega-Project.

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Written by SD:

Hyderabad: January 20, 2010,

Private Pride: Reliance Jamnagar Refining Plant. With the commissioning of a new refinery adjacent to the existing one, this petrochemical complex became (and still is) the world's largest.

The Indian Oil Corporation today unveiled two new ‘mega’ plants at Hyderabad, to better compete with the two refineries built by Reliance Industries at Jamnagar (which were build on a record scale and in record time).

The mammoth infrastructural venture was the ‘brainchild’ Mr. Sadhu Karmake, the IAS officer who went on to become a Member of Parliament multiple times on different tickets, and then became the Managing Director of the Indian Oil Company after lobbying hard for legislation to allow MPs to head public sector companies. Phase-I of the project was implemented over 54 months and was inaugurated this morning.

“We had initially planned an outlay of Rs.80,000 crores, but the global recession of 2008 made fund-raising very difficult during the middle stages, so we had to rely on the stimulus package given by the Government. But I can proudly state that we have now fully executed Phase – I. Moreover,  we have adhered to all Government standards while doing so.”, said the MD.

When confronted with rumors of cost overruns, Mr. Sadhu said, “See, there will always be gaps. I have been part of the Government long enough to know that there is always a slight gap between planning and implementation. Besides, this is just the first phase. ”

“Since the price of crude oil is well within our comfort zone, we no longer need to support ourselves with Oil Bonds. So we hope to increase the cap-ex outlay for Phase-II to Rs. 92,000 crores.”, said Mr. Sadhu, before signing off with the company slogan, “Cleanliness is the symbol of Civilisation.”

Our reporter had the exclusive opportunity to take photos of the completed project.

Click HERE to view the pictures.

Note: These photos are exclusive and have been brought to readers at a great cost.

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Written by sirkapyaaz

January 21, 2010 at 11:00 AM

Posted in Corporate

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