Indian Oil Corporation plans to invest Rs 3,000 crore for the expansion and setting up of new units including a paraxylene and propylene recovery plant, at its Haldia refinery in West Bengal.
This Rs 3,000 crore investment is over and above the Rs 1,900 crore investment lined up by IOC for a project to produce Euro-III complaint fuel.
Clearance is awaited from the Ministry of Shipping which owns the 210 acres of land required by IOC for the refinery expansion. The expansion project would be complete within 24 months after getting the land.
14-Jun-06 
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