Indian Oil Corporation has planned to invest Rs.8,325 crore in its various projects during 2006-07, up 57 per cent from Rs.5,296 crore spent in 2005-06.

Prominent amongst the ongoing projects is the 15 million tpa refinery and petrochemical complex at Paradip in Orissa being constructed at a cost of Rs.25,676 crore. Other projects include the Rs.3,940 crore residue upgradation project at the Koyali refinery in Gujarat and motor spirit upgradation projects at the Barauni, Mathura, Panipat and Digboi refineries, together costing Rs.1,684 crore. A catalytic converter project costing Rs.552 crore has also been proposed for the Haldia and Mathura refineries.

IOC has targeted to attain petroleum refining capacity of 67 million tpa by 2011-12 from the current 41.5 million tpa. Till 2011-12, total capital expenditure is estimated to be Rs.70,000 crore.

Also See:

IOC, HSIDC ink MoU for Panipat petrochemical complex (15-Apr-06)

IOC to invest Rs.5,832 crore in FY06 (14-Apr-05)