IndianOil to expand Panipat refinery with capex of Rs 32,946 crore ANI | Updated: Feb 27, 2021 10:32 IST
Mumbai (Maharashtra) [India], Feb 27 (ANI): Oil marketing firm IndianOil Corporation (IOC) is expanding its Panipat refinery s capacity from 15 million metric tonnes per annum (MMTPA) to 25 MMTPA at a cost of Rs 32,946 crore.
The expansion will include installation of a polypropylene unit and a catalytic dewaxing unit. The project is expected to be commissioned by September 2024.
The state-owned company s board of directors has accorded approval for capital investment. The capacity expansion will improve operational flexibility of the refinery to meet domestic energy demand and also enhance the petrochemicals intensity, it said in a statement.