Indian Oil Corporation (IOC) will make an investment of around Rs 15,000 crore to expand the capacity of its Gujarat Refinery located in Vadodara.
The company is planning to raise the capacity of its Gujarat refinery from 13.7 million tpa to 18 million tpa. It will also do quality upgradation of the refinery. The upgradation will help the refinery produce Bharat Stage (BS)-VI fuel by 2020.
Indian Oil Corp is in the process of acquiring 43 acre of land for expansion.
In addition, the company is in the process of setting up an eight MW solar power project at its LPG bottling plant at Sanand.