State-owned Indian Oil Corp (IOC) today said its board has approved Rs 15,034 crore investment to expand its Gujarat refinery by 2022.
Expansion of capacity of refinery at Vadodara from existing 13.7 million tons to 18 million tons would “help meet the growing demand for products in the region,” the company said in a statement.
The project involves replacing some of decades-old units that being old in design and small in capacity were no longer energy-efficient.
IOC Chairman Sanjiv Singh said the new refinery configuration proposed will take into account the likely disruptions in the fuel supply-demand scenario in the future and will have built-in flexibility in its operations for strong integration with downstream petrochemical units. Read More…
Credit By : The Economics Times
Latest posts by The Economic Times (see all)
- Coal India Seeks To Limit Wage Outgo – August 20, 2017
- India’s Five Tragic Train Accidents In Last Five Years – August 20, 2017
- 75, Not Out: L&T Chairman AM Naik Talks About Life Beyond This September – August 20, 2017