In a bid to upgrade its Koyali refinery to produce fuel compliant with Euro-IV emission norms, Indian Oil Corporation (IOC) is planning to invest Rs 1,800 crore. The Gujarat refinery is gearing up to meet the petrol and diesel quality improvement programme, in line with the government's auto fuel vision 2025 to supply BS-IV fuels from April, 2017.
The refinery with 13.7 MT capacity will revamp all its units to supply BS-IV fuel by April 1, 2017. The BS-IV norms call for reduction of sulphur in diesel from 350 PPM (BSIII) to 50 PPM and in petrol from 150 PPM to 50 PPM.
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.