IOC estimates cost to rebuild Jaipur facility

State-run Indian Oil Corp. said it may have to spend Rs2 billion (US$42.32 million) rebuilding its Jaipur facility in the western Indian state of Rajasthan, which was damaged by a fire. “We have lost 30,000 kiloliters of petroleum products, but the entire product was insured,” IOC Chairman Sarthak Behuria said. A fire broke out in the Jaipur depot on October 29. Eleven people, including six IOC officials, were killed in the fire, Behuria added. He also said the company may shift its facilities to new areas that are not congested. (November 3, 2009)