State-owned Indian Oil Corporation would pump in Rs 5,000 crore to ramp up capacity of its Haldia Refinery for which most of the land has been acquired. | |
| "IOC will invest Rs 5,000 crore to increase the capacity of Haldia refinery from the present 5 million tonnes to 7.5 million tonnes," company Chairman S Behuria said here today. |
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| "Apart from the expansion, a new plant for making paraxylene, raw material for MCC PTA, would also be set up," Behuria told reporters on the sidelines of the National HRD summit. |
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| Stating that the company would require 86 acres for undertaking the capacity expansion, Behuria said that most of the land has been acquired. |
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| Turning to the spiralling prices of crude, Behuria said that IOC suffered Rs 120 crore under recovery per day on account of it. |
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| He also sought more liberisation from the government in the oil and gas sector like pricing. |
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