IOC’s Paradip refinery to come on stream by mid-2011

28-Jun-11

Indian Oil Corporation Ltd (IOCL), the nation's largest oil marketing firm, hopes to commission its proposed 15 mln tpa refinery project at Paradip by mid-2012. The oil major has already invested Rs 8000 crore in the project. The petrochemical complex was slated to be taken up in the second phase. As on today, the IOCL board has only approved the refinery project. Financial constraints have delayed establishment of the petrochemical project in Paradip by about two years. The refinery will produce 5.97 mln tons of diesel, 3.4 mln tons of petrol, 1.45 mln tons of kerosene/ATF (Aviation Turbine Fuel), 536,000 tons of LPG, 124,000 tons of naphtha and 335,000 tons of sulphur, all of which will be for sale in the domestic market.