Chennai: State-owned Indian Oil Corporation has proposed to invest about Rs 1,200 crore during the current financial year for expanding its Liquefied Petroleum Gas (LPG) pipeline projects.

"Recently, the Corporation has renewed focus on LPG pipelines so as to leverage the economics and safety aspects of LPG transport via pipelines. With increased LPG imports and significant evacuation through tankers, LPG piplines are in the next growth avenue," IOC said in its annual report.

"Paradip-Haldia-Durgapur Pipeline and Ennore-Trichy- Madurai Pipeline are being planned for transportation of LPG. The Corporation has planned to invest Rs 1,200 crore during the current financial year for implementing various pipeline projects," the report said.-- PTI