Indianoil to invest `6,800 crore on Guj refinery capacity expansion
State-run Indian Oil Corporation (IOC) on Tuesday said it will be investing Rs 6,800 crore on capacity expansion and improving fuel quality at its Gujarat refinery unit. The state-run refiner in the country will invest Rs 5,000 crore to increase its overall capacity to 18 million metric tonnes from the present 13.7 million metric tonnes, executive director S K Dhar Gupta said.
Besides, it will invest Rs 1,800 crore to make the end product compliant with the low-sulphur Bharat Stage (BS-IV and BS-V) norms, he said. The new capacity addition at its plant at Koyali village in the outskirts of the city will also be compliant with the latest fuel norms, he said. “The Gujarat refinery is gearing up to meet the quality improvement programme in line with the Auto Fuel Vision and Policy-2025, for supply of BS-IV fuels across India from April 1, 2017,” he said.