The Telegraph
Wednesday , November 28 , 2012
Since 1st March, 1999
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IOC refinery plan

New Delhi, Nov. 27: Indian Oil Corporation (IOC) today said it was planning to set up a 15-million-tonne refinery in Gujarat or Maharashtra as part of its strategy to almost double its capacity.

“We have commissioned Engineers India Ltd to do a configuration and location study. We are looking at different locations. We got offers to set up the refinery. Land is an issue for such huge projects involving Rs 30,000 crore,” IOC director (refineries) R.K. Ghosh said.

The company has been offered land by Adani Group at Mundra in Gujarat as well as by Shapoorji Pallonji Group in Saurashtra.

Engineers India will submit a feasibility report on the setting up of a refinery on the western coast by December. The company will follow it up with a detailed feasibility report. The refinery is to come up by the 13th Five Year Plan (2017-22).

The company, which has a 13.7-million-tonnes refinery at Koyali in Gujarat, may consider another unit in the state because of the easy availability of land.

At present, IOC has seven refineries with a cumulative capacity of 54.2 million tonnes annual capacity.

“We are looking to spend nearly Rs 60,000-70,000 crore to have 100 million tonnes refining capacity by 2021-22. This would be done during the 12th and 13th five year plan periods,” Ghosh said.

He said IOC planned to expand its Koyali refinery to 18 million tonnes, increase capacity of the Mathura refinery to 11 million tonnes and expand the Panipat unit to 18 or 21 million tonnes. The Paradip refinery, which is under construction and is to be commissioned next year, will be expanded to 20 million tonnes.