Oil minister, Dharmendra Pradhan, laid the foundation stone of Octomax unit at the Mathura refinery in Uttar Pradesh, that will help in the production of high-octane gasoline, on 6th March 2016.
Octomax, a "novel technology" developed in-house by the Research and Development Centre of Indian Oil, involves conversion of cracked C4 streams to high-octane gasoline blending stock for production of Euro-IV/V equivalent gasoline.
The refinery will set up a plant of 55 KTA capacity at an estimated cost of Rs 43 crore and is expected to be completed by October 2017.