IOC To Invest Over Rs 1.5 Lakh Crore In Project Expansion, Quality Upgradation


IOC To Invest Over Rs 1.5 Lakh Crore In Project Expansion, Quality Upgradation

Indian Oil Corporation (IOC), the nation’s largest fuel retailer, today announced it has drawn up plans for investing over Rs 1,06,000 crore in mega projects for refinery capacity expansion and fuel quality upgrade to be implemented through 2030.

“Nothing comes free and we have drawn up plans for huge investments,” said B V Rama Gopal, IOC’s new Director-Refineries said at a media interaction. “We will invest Rs 16,600 crore for fuel quality upgradation projects in right refineries, Rs 15,600 crore in capacity expansion projects and an additional Rs 74,600 crore in new projects for which we have received Stage-I approval,” he added.

The company is also firming up plans for new capacity expansion projects worth Rs 36,500 crore which are yet to be approved. This includes expanding the capacity at tree flagship refineries including Paradip, Bongaigaon and Guwahati. Additionally, the company plans to invest Rs 20,000 crore in petcoke projects. Read More…

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