IOC clears Rs 3,940 cr for Gujarat Refinery upgradation

IOC has accorded ‘in principle’ approval for Rs 3,940 crore upgradation project at Gujarat Refinery at Koyali, near here, including Motor Spirit (MS) and high speed diesel (HSD) quality improvement to Euro-III and Euro-IV equivalent specification.

The capital cost of the project would be Rs 3,940 crore, including about Rs 1,665 crore towards MS/HSD quality improvement, Director (Refineries) of IOC, Jaspal Singh said here.

Speaking about the Linear Alky Benzene (LAB) project undertaken at the Gujarat Refinery, Singh said the project, worth Rs 1,200 crore, will be completed in 23 months time schedule.

In its first phase of the project, only 60 per cent of the total production capacity has been reached and by the end of this year, production levels are expected to reach its full capacity, added Singh.