State-owned Indian Oil Corp (IOC) has a vision to grow from US$35 billion (Rs 150,667 crore) in 2004-05 to US$60 billion (Rs 270,000 crore) by 2011-12 through diversification in petrochemicals, gas and upstream oil and gas exploration and production business. In line with this vision, IOC's expansion plans for 2005-2006 include investments to the tune of Rs 7,472 crore in refinery expansion, pipelines and petrochemical plant, of which Rs 1,757 crore will be in petrochemicals.
Major ongoing/planned projects include:
Rs 5,104 crore Paraxylene/PTA unit at Panipat (to be completed in October 2005)
Rs 20,700 crore refinery planned at Paradeep in Orissa
Rs 1,178 crore Paradeep-Haldia crude oil pipeline
Rs 6,300 core naphtha cracker and polymer complex at Panipat
01-Jun-05 
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