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IOC to spend Rs 20,000
cr in expansion of its Gujarat refinery
Stock Trading Tips :-Union Minister said PSU major
Indian Oil Corporation was going to spend Rs 20,000 crore for brownfield
expansion of its refinery near here. "IOC's Gujarat Refinery here has been
asked to jump directly from BS IV to the more stringent BS VI norms for petrol
and diesel, so that cleaner transport fuels become available sooner to bring
down vehicular emissions," the Union Minister of State for Petroleum and
Natural Gas said after visiting the refinery. He told PTI that the Gujarat Refinery
was expanding capacity to 18 million tonnes per annum (MTPA) from the existing
13.7 MTPA. The growth is anticipated to be commissioned in 2020.
"After
the expansion, it will become the refinery with largest capacity for the
company," the Union Minister said. also said he would be visiting
Iran on April 9, and was trying to expand energy ties with that country. The
agenda of the visit includes ONGC's participation in developing the Farzad-b
gas field, buying additional crude oil and settling pending payments for
earlier oil purchased from Iran, he said. "I will also discuss projects
including petrochemicals and fertiliser plants in the special economic zone at
Chabahar port in Iran," he said. External Affairs Minister
will visit Iran later this month,
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