Indian Oil Corporation (IOC), is planning to invest around Rs 8,000 crore to expand its capacity at its Koyali oil refinery in Gujarat by 2016-17.
The company will expand its capacity from 13.7 million tpa to 18 million tpa. The expansion will help the unit to raise its processing of high sulphur crude capability.
Besides, IOC is also planning to expand its Haldia refinery capacity to 8 million tonne from 7.5 million tonne, while it also raises Chennai refinery capacity by 0.6 million tonne.
Gujarat refinery is IOC's second biggest refinery after Panipat, which has a capacity of 15 million tonne. It is also building a 15 million tonne new refinery at Paradip in Orissa which is expected to be completed by 2015-16.