Indian Oil Corp aims to invest Rs 4,000 crore to upgrade its refinery in Odisha after the central government decided to bring forward by four years the introduction of road vehicle fuels which are compliant with Euro VI emission standards to April 2020.
The 300,000 barrels per day refinery, which was commissioned in 2015, was designed to produce Euro IV and Euro V-compliant fuels. But the government's decision to bring forward the introduction of Euro VI fuels to combat rising pollution requires installation of some new units and upgrades of existing ones.
IOC needs to add facilities like Isomerisation, Diesel Hydrotreater and a Hydrogen units to produce Euro VI compliant fuels at the Paradip refinery in Odisha.