Indian Oil Corporation (IOC) is evaluating setting up a Rs 20,000-crore coke gasification project at its Paradip refinery in Odisha to convert the lowest-cost fossil fuel into gas that can be used to generate power or make petrochemicals.
A 2 million tonnes a year coke gasification unit would cost Rs 15,000 crore to 20,000 crore. The pet coke produced in Paradip, Chennai and Haldia refinery can be used in the new plant to generate syngas.
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.