The Hindu Business Line : PSU refiners to invest Rs 66K cr on expansion

NEW DELHI: State-run oil refiners will invest about Rs 66,250 crore over the next two years on capacity expansion and projects to upgrade the quality of petrol and diesel produced at the existing plants.

Indian Oil Corp, the nation's largest refiner, will pump in Rs 29,836.82 crore in improving petrol and diesel quality at its refineries in Gujarat, Uttar Pradesh, Haryana, Bihar and Assam and setting up a petrochemical complex at Panipat, Minister of Sta te for Petroleum and Natural Gas, Mr Jitin Prasada said in a written reply to a question in Lok Sabha here on Thursday.

IOC is investing Rs 14,439 crore in naphtha cracker project at Panipat and another Rs 1,007.83 crore in expansion of the Panipat refinery from 12 million tonnes a year to 15 million tonnes. It will also invest Rs 2,869 crore in a project to improve diese l quality and expansion of Haldia refinery capacity form 6 million tonnes to 7.5 million tonnes.

Fuel quality improvement project at Koyali refinery in Gujarat would cost Rs 5,882 crore, he said, adding similar projects were under execution at Panipat refinery, Mathura, Barauni, Guwahati, Digboi and Bongaigaon refinery.

Bharat Petroleum Corp (BPCL) is investing Rs 3,941 crore in increasing capacity of its Kochi refinery in Kerala to 9.5 million tonnes from currently 7.5 million tonnes. - PTI

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