IOC to expand Gujarat refinery capacity

NEW DELHI, NOV. 10. Indian Oil corporation will invest Rs. 4,400 crores to expand its Gujarat refinery's capacity to 18 million tonnes from the present 13.7 million tonnes by May 2002."Residue upgradation project, costing Rs. 4,228 crores, at Gujarat refinery will expand its refining capacity to 18 million tonnes in the next two years," company sources said.

Gujarat refinery's capacity was expanded by three million tonnes to 13.7 million tonnes in the last fiscal, sources said adding the present expansion would take the corporation's refining capacity to around 55 million tonnes from the present capacity of 35.55 million tonnes.

Expansion of Gujarat refinery by three million tonnes entailed an expenditure of Rs. 749 crores, they said adding the completion of the diesel hydro-desulphurisation (DHDS) project at the refinery in a record time of just over 17 months has set a new benchmark in project management in the oil industry.

IOC is setting up a grassroots refinery of nine million tonnes capacity at Paradip, Orissa, at an estimated cost of Rs. 8,312 crores while it has also planned doubling of capacity of Panipat refinery to 12 million tonnes at a cost of Rs. 3,365 crores and Barauni refinery to six million tonnes at an investment of Rs. 1,803 crores, sources said.

IOC is also setting up facilities for production of paraxylene/PTAa at Panipat refinery at an estimated cost of Rs. 4,228 crores.

- PTI

Send this article to Friends by E-Mail

Section  : Business
Previous : RBI sets up working group on consolidated
           accounting
Next     : Managerial remuneration, DCA's advice to companies