Indian Oil will invest over US$3bn to expand its Koyali refinery (India)
Indian oil refiner and fuel retailer Indian Oil Corporation (IOC) plans to invest INR 222bn (over US$3.1bn) to expand the capacity of its Koyali refinery in Gujarat (north-western India) from 13.7 Mt/year (275,000 bbl/d) to 18 Mt/year (361,000 bbl/d). The expansion project would improve operational efficiency by replacing smaller capacity atmospheric unit and vacuum units with a large atmospheric vacuum unit (AVU). The project would also enable to meet 100% BS-VI fuel production.
IOC is the largest refiner in India, accounting for 32% of the country’s refining capacity (nearly 5 mb/d in 2018). In March 2018, the group had already announced plans to invest INR 241bn in the expansion of the refinery, to add 4.8 Mt/year (96,000 bbl/d), and to increase the production capacity of lower sulphur fuels (BS-IV and BS-VI fuels).
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