Financial Daily from THE HINDU group of publications
Friday, Nov 11, 2005
Financial Daily from THE HINDU group of publications Friday, Nov 11, 2005 |
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Corporate
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Announcements IOC commissions motor spirit plant at Haldia refinery Our Bureau
Kolkata , Nov. 10 INDIAN Oil has commissioned its 0.35-million-tonne Euro-III motor spirit production facility at Haldia refinery. The Rs 359-crore project is part of the Rs 1,600-crore investment plan at the refinery for expanding refining capacity from 6 million tonnes to 7.5 million tonnes as well as changing the process configuration. The project will be completed in 2009, enabling Haldia refinery to use 90 per cent of cheaper heavy crude, said a company official. IOC had already set up the Euro-III petrol production facility at the 7.5-million-tonne Mathura refinery in June this year. The production of cleaner fuel will go up further in June 2006 when IOC commissions the 0.6-million-tonne Euro-III petrol production capacity at the company's biggest refinery (13.7 million tonne) at Koyali in Gujarat. The project is estimated to cost Rs 450 crore and is part of the ongoing investment programme to upgrade product quality and change process configuration. This apart, the company's Panipat refinery, which is undergoing a capacity expansion programme, will also be enabled to supply Euro-III fuel. The use of Euro-III fuel is mandatory in 11 major cities in the country beginning this fiscal.
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