IOC to spend Rs 8,000 crore for capacity expansion at Koyali oil refinery

State-owned Indian Oil Corporation (IOC) is planning to spend around Rs 8,000 crore for capacity expansion at its Koyali oil refinery in Gujarat to 18 million tonnes per annum (mtpa) from 13.7 mtpa by 2016-17. The expansion will improve distillate yield which enables production of more value added products from the refinery.

Also, the increase in the high sulphur crude processing capability will lead to improvement in refinery margins and profitability.

Further, the company is setting up a new gas turbine to augment the operational reliability. The expansion will help the unit raise its processing of high sulphur crude, which are cheaper.

IOC is the largest enterprise in the country and the foremost ranked Fortune Global 500 Company in India and has presence in the complete hydrocarbon value chain from downstream refining & marketing, pipeline transportation, Petrochemicals, E&P and Gas Marketing.