This new refinery, which will come up on about 1,300 acres of land in Nagapattinam, will produce petrol and diesel for BS-VI specifications and also polypropylene.
Indian Oil plans $4.5 billion Panipat refinery expansion by September 2024
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Indian Oil plans $4.5 billion Panipat refinery expansion by September 2024
Reuters / Feb 27, 2021, 17:04 IST
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India aims to expand its 5 million bpd refining capacity by 60% to meet rising local demand. (File photo)
NEW DELHI: Indian Oil Corp will invest Rs 32,946 crore ($4.46 billion) to raise the capacity of its Panipat refinery by two-thirds to 500,000 barrels per day (bpd) by September 2024, the country’s top refiner said on Friday.
India, the world’s third biggest oil importer and consumer, aims to expand its 5 million bpd refining capacity by 60% to meet rising local demand as Prime Minister Narendra Modi seeks to boost the manufacturing sector.