New Delhi: Indian Oil Corp will invest Rs 7,812 crore in fuel quality upgradation projects at two key refineries as well as other expansion projects.
IOC is the nation’s largest oil firm. The Board of state-owned company last week approved an investment of Rs 1,843 crore in upgrading the 13.7 million tons Koyali refinery in Gujarat to produce Euro-IV complaint petrol an diesel.
IOC said another, Rs 1,327 crore will be spent on similar fuel quality upgradation project at Barauni refinery in Bihar. The Board on February 13 also approved “setting up of ethylene glycol project along with associated facilities at Paradip (in Odisha) at an estimated project cost of Rs 3,752 crore,” IOC said.
The scheme would help in consolidating the glycol business of IOC by producing low cost mon-ethylene glycol based on refinery gas. The Board approved Rs 108 crore for carrying of detailed feasibility report of the project. It will invest another Rs 890 crore in construction of a dedicated naphtha pipeline from Jaipur to Panipat along with augmentation of Koyali-Sanganer product pipeline.
