Indian Oil to invest Rs 7812 crore for expansion

17-Feb-15

Indian Oil to invest Rs7,812 crore for expansion IOC to invest Rs.1,843 crore in upgrading Koyali refinery in Gujarat to produce Euro-IV complaint fuel, Rs.1,327 crore to be spent on Barauni refinery in Bihar The board approved an investment of Rs.1,843 crore in upgrading the 13.7 mln tons Koyali refinery in Gujarat to produce Euro-IV complaint petrol an diesel. Another, Rs.1,327 crore will be spent on similar fuel quality upgradation project at Barauni refinery in Bihar. The Borad approved setting up of ethylene glycol project along with associated facilities at Paradip (in Odisha) at an estimated project cost of Rs.3,752 crore. The project would help in consolidating the glycol business of IOC by producing low cost mon-ethylene glycol based on refinery gas.