Indian Oil Corp (IOC) is planning to expand its existing refineries and set up a new one on the west coast.

The company will invest Rs 50,000 crore to raise the refining capacity to 105 million tpa from the current 65.7 million tpa by 2022. The reason behind the refinery capacity augmentation is to meet the diesel demand.

For the purpose, IOC is planning to raise the capacity of Mathura refinery from the current six million tpa to 11 million tpa with an investment of Rs 8,000 crore. As a part of Gujarat refinery the capacity will be raised from the present 13.7 million tpa to 18 million tpa at a cost of Rs 5,000 crore. The Panipat refinery’s capacity will be raised to 18-21 million tpa from the present 12 million tpa, at Haldia IOC plans to put in a coker unit for bottom upgradation and increase capacity from 7.5 million tonne to 8 million tonne whereas it is also planning to expand the capacity of its subsidiary refinery, Chennai Petroleum Corp, from 9.5 million tpa to around 15 million tpa..

Meanwhile, the company is setting up a 15-million tpa refinery at Paradip, Orissa, at an investment of Rs 30,000 crore. Also, there are plans to build a new refinery of 15 million tonne on the west coast, either in Maharashtra, Gujarat or Karnataka. The project is estimated to cost Rs 30,000 crore.