IOC planning R30,000-cr refinery on west coast
Press Trust of India: Nov 28 2012, 01:00 IST
Indian Oil Corp on Tuesday said it is planning a Rs 30,000-crore refinery on the west coast in Gujarat or Maharashtra as part of its plans to raise the refining capacity to 100 million tonnes.
IOC has 7 refineries totalling 54.2 million tonnes and a 11.5 million tonne subsidiary in Chennai Petroleum. It so far has no coastal refinery, impairing its ability to process cheaper difficult crude oils. “We are looking at options to set up a 15 million tonnes refinery on the west coast,” IOC director (refineries) Rajkumar Ghosh said here. IOC, he said, is looking for sites for the new unit in Gujarat and Maharashtra. The firm has been offered land by Adani Group at Mundra and by Shapoorji Pallonji Group in Saurashtra.
Previous Story Pledged stocks value rises 16% to Rs 1,42,000 cr Next Story Wheat exports stepped up to cash in on high global prices
Reader's Comments| Post a Comment
Be the first to comment.
