Oil refiner cum retailer Indian Oil Corporation Ltd (IOCL) aims to reach a refining capacity of 9-10 mln ton (mt) in this fiscal at its 15 mt crude oil refinery at Paradeep. "We were aiming to achieve 100% capacity capacity utilisation at our Paradeep refinery this fiscal. But the refinery will take time to stabilise and reach its full rated capacity. In this fiscal, we aim to achieve a refining capacity of 9-10 mt," said Sanjiv Singh, director (refineries), IOCL.
IOCL has invested Rs 35,000 crore on the Paradeep refinery. The unit has commenced operations in February this year. The polypropylene unit would make use of Spheripol Technology from Basell, Italy.