MUMBAI (Commodity Online): The state run Indian Oil Corporation (BSE: IOC : 530965, NSE : IOC) plan to double our crude refining installed capacity from 61.7 to 123 million tons per annum (mtpa) in the next decade and may set up 30,000 crore worth refinery in Gujarat.
According to a senior IOC official, the company had Maharastra in mind but the existing crude oil and product pipeline infrastructure in Gujarat, it seemed good location the new refinery, reported Business Standard.
The present IOC's Koyali refinery in Gujarat has a capacity of 13.7 mtpa and the company operates a 1,870-km-long Salaya-Mathura pipeline from Salaya (near Vadinar) in Jamnagar district in the state to bring crude oil to its refineries at Koyali, Mathura (Uttar Pradesh) and Panipat (Haryana).
IndianOil controls 10 of India’s 20 refineries.
In India's Bombay Stock Exchange (BSE), the company traded 0.04% to Rs 240.40 on 4th January at 12:40 IST.
