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IOC infuses Rs 3,000 cr to upgrade refinery at Haldia

Friday, 28 Feb 2020
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The Indian Oil Corporation (IOC) has made an investment of about Rs 3,000 crore to upgrade its refinery at Haldia for the manufacture of petrol and diesel to comply with BS-VI emission norms. The new norms will come into force from 1 April 2020.

The oil marketing PSU will invest another Rs 388 crore for setting up a grassroot bottling plant at Kharagpur, diesel exhaust fluid (DEF) plant at Budge Budge and lube blending unit at Paharpur in the state of West Bengal.

It has incurred a total expenditure of around Rs 17,000 crore across its refineries in the country to manufacture BS-VI compliant fuel.

The company will be investing Rs 163 crore to set up a new bottling plant at Kharagpur with a proposed capacity of 120 tpa, which will be commissioned by 2021.

It is also coming up with a DEF plant at Budge Budge (West Bengal) at an investment of Rs 75 crore.

Apart from this, the company will also invest Rs 150 crore for a modern lube blending unit at Paharpur in West Bengal.

Besides, plans to automate all its retail outlets, the company will also augment its LPG distributor network. It has awarded contracts to two private players for setting up compressed biogas plants in the state.

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