Bid & Tender
India Plans to Invest $2.7 Billion in Refinery Expansion

Date : Oct 10, 2016

According to the report, India plans to invest $2.71 billion to raise capacity of its Panipat refinery in the state of Haryana to 25 million tonnes by 2020, a report said.

 

State-run Indian Oil Corporation is looking at raising the capacity to 25 million tonnes, Sanjiv Singh, director (Refineries) said.

 

“We have land at Panipat refinery site and so we are looking at going straight to 25 million tonnes,” he said.

 

“We have to look at the capacity of the pipeline, which carries crude oil from west coast to the refinery before finalising if the capacity should be expanded to 20.2 million tonnes as planned earlier or go straight to 25 million tonnes.”

 

IOC owns and operates 11 out of India’s 23 refineries with a combined refining capacity of 80.7 million tonnes per annum, according to the report.

 

“We are working on raising fuel quality specifications to meet Euro-VI standards at our refineries and so, the Panipat expansion too is being reconfigured to meet the new specifications,” Singh said.