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IOC to invest Rs 6,800 crore on capacity expansion

24 Dec 2014 Evaluate

Indian Oil Corporation (IOC) is planning to invest Rs 6,800 crore on capacity expansion and improving fuel quality at its Gujarat refinery unit. Moreover, the state-run refiner in the country will invest Rs 5,000 crore to increase its overall capacity to 18 million metric tonnes from the present 13.7 million metric tonnes. Besides, the company will spend Rs 1,800 crore to make the end product compliant with the low-sulphur Bharat Stage (BS-IV and BS-V) norms.

IOC is the largest enterprise in the country and the foremost ranked Fortune Global 500 Company in India and has presence in the complete hydrocarbon value chain from downstream refining & marketing, pipeline transportation, Petrochemicals, E&P and Gas Marketing.

 

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