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Indian Oil Corp to invest Rs 7 billion to expand refining capacity by 2030

Bharat Petroleum Corp (BPCL) is looking to ramp up capacity to 56 MTPA, from 36.5 MTPA currently, by adding 5 MT to its Kochi unit and ramping up capacity of Bina refinery in MP by 9 MT

Press Trust of India  |  New Delhi 

IOC, BPCL, HPCL eye Rs 60k-cr refinery
Image: Wikimedia Commons

(IOC) will invest Rs 7 billion to raise its by about a quarter by 2030 as it takes the lead to meet rising of the country.

IOC will expand its refining capacity to 116.55 million tonnes per annum (MTPA) by 2030 from the current 80.7 MTPA with an investment of about Rs 7 billion, a top said.

India's current refining capacity of 247.6 MTPA exceeds consumption but with demand growing at a compounded annual growth rate of 3.5-4 per cent, it will need to add more capacity to meet the rising fuel needs.

While the projects India's demand to reach 434 MT by 2040 from 194 MT currently, IEA puts the number between 450 and 492 MT.

The to rise to 335 MT by 2030 and has planned to raise the country's refining capacity to 415 MTPA by 2020 from the current 247.6 MTPA. In 2040, the refining capacity is projected to rise to 439 MTPA.

The said the investment planned by IOC also includes in upgradation of major units at existing refineries to help produce cleaner Euro-VI or BS-VI grade petrol and diesel by April 2020.

Besides, IOC plans to raise capacity of its in to 25 MTPA from current 15 MTPA while in would be expanded to 18 MTPA from 13.7 MTPA.

The recently-commissioned in Odisha will see a capacity addition of 5 MT while 3 MT will be added in IOC's Barauni refinery in Bihar, he said.

A 1.2-MTPA capacity addition is planned for Uttar Pradesh's Mathura refinery to take its capacity to 9.2 MTPA.

The said IOC is also looking at adding a 9 MTPA refinery at its subsidiary (CPCL).

Other state refiners too have planned capacity addition to meet rising demand. (BPCL) is looking to ramp up capacity to 56 MTPA, from 36.5 MTPA currently, by adding 5 MT to its Kochi unit and ramping up capacity of in by 9 MT to 15 MTPA. Also, Numaligarh capacity will go up to 9 MTPA from 3 now.

(HPCL) also plans to expand its to 9.5 MTPA from 7.5 MTPA and that of Vizag unit to 15 MTPA from 8.3 now.

It is also setting up a new 9 MTPA unit at Barmer in

The official said IOC, BPCL and HPCL are together looking at putting up a new 60 on the in Maharahstra.

First Published: Sun, February 18 2018. 14:05 IST
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