IOC looking to expand Panipat refinery capacity by 6 mt.

Byline: Pratim Ranjan Bose

With refining margins on the rise, IndianOil is looking forward to six-million-tonnes capacity expansion of its Panipat Refinery as early as in April, according to sources.

Early assessments suggest, the project may cost nearly Rs 6,000 crore. A proposal in this regard may be put up for board approval in the first quarter of the next fiscal.

Officially though, IOC maintains that it is weighing proposals to expand the 15-million-tonne Panipat refinery by 3-6 mt and the analysis will take a couple of months to be complete. Refining margins or the difference between international prices of crude oil and product prices determine the …