Indian Oil Corporation (IOC) is looking forward to setting up a coastal refinery at Mundra in Kachchh district of Gujarat.

The proposed project, entailing an investment of Rs 30,000 crore, will have a capacity of 15 million tpa. The new refinery is part of the company's plan to augment its processing capacity to 100 million tonne by 2021-22. The company has appointed Engineers India to carry out a configuration and location study for the west coast refinery.

IOC intends to set up a coastal refinery on the west coast, for which the company is scouting for land. It has two sites -- the Mundra port of the Adani Group and another minor port in Maharashtra. Adani Group has land at Mundra, which IOC can take over for the refinery, while in Maharashtra the land will have to be acquired. The company has been offered land by the Adani Group at Mundra.

As part of its expansion project, IOC is planning to expand the capacity of its Koyali refinery in Gujarat from the existing 13.7 million tonne to 18 million tonne, at a cost of Rs 4,858 crore. IOC is also considering augmenting the capacity of its Mathura plant from eight million tonne to 11 million tonne. Also, an expansion of the Panipat plant to 18 or 21 million tonne from 15 million tonne, is being considered.

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