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IOC gets nod for capacity expansion of Barauni Refinery in Bihar

31 Jan 2020 Evaluate

Indian Oil Corporation’s (IOC) board has accorded approval to the project for expansion of capacity (crude processing) of its Barauni Refinery in Bihar from 6.0 MMTPA to 9.0 MMTPA at an estimated cost of Rs 13,779 crore. The expansion would help in meeting the growing domestic demand of petroleum products in the country. The project is likely to be commissioned by April 2023. The Board of Directors of the company in their meeting held January 30, 2020 has approved the same.

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

Peers
Company Name CMP
Reliance Industries 1186.10
Indian Oil Corpn. 130.70
Bharat PetroleumCorp 296.50
HPCL 343.10
MRPL 172.60
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