Indian petroleum refinery waste products 03 Oil Plans To build Rs30,000 Crore Refinery At Mundra
New Delhi: State-owned Indian Oil Corp (IOC) is mulling setting up a Rs30,000 crore refinery at Mundra in Gujarat as a part of a plan to increase its processing capability to one hundred million tonnes.
IOC has seven refineries with a complete capability of 54.2 million tonnes and subsidiary Chennai Petroleum Corp operates a 11.5 million tonne plant. A coastal refinery would enable IOC to ship in larger quantities of heavier grades of crude oil, that are cheaper as a result of they’re harder to process into fuels.
“We want to arrange a coastal refinery on the west coast. We’ve got been hunting for land for a 15 million ton a yr refinery and now have two websites — the Mundra port of the Adanis and one other minor port in petroleum refinery waste products 03 Maharashtra,” a senior IOC official mentioned.
The Adani Group has land at Mundra which IOC can take over for the refinery, he stated, including that in Maharashtra, the land would have to be acquired. The company has been provided land by Adani Group at Mundra, he stated.
IOC has a 13.7 million tonne refinery at Koyali in Gujarat and doesn’t have a presence in Maharashtra. All of its refineries are landlocked. Its first coastal refinery at Paradip in Odisha will come up later this 12 months.
“We have commissioned Engineers India Ltd to do a configuration and location examine for the west petroleum refinery waste products 03 coast refinery,” he said, including the plant is scheduled to return up by 2021-22. He mentioned IOC has plans to boost its refining capability to one hundred million tonnes by 2021-22.
The Koyali refinery capacity might be elevated to 18 million tonnes at a price of Rs4,858 crore, whereas the Mathura plant may be expanded to 11 million tonnes from eight million tonnes.
Also, an expansion of the Panipat plant to 18 or 21 million tonnes from 15 million tonnes is being thought of. The beneath-construction 15 million ton Paradip refinery in Odisha can be expanded to 20 million tonnes in future.
“Paradip refinery will probably be absolutely commissioned by yr finish,” he added.
IOC plans to invest Rs56,200 crore within the 12th Five Yr Plan period ending 31 March 2017, he mentioned, adding that Rs27,159 crore is being set aside to expand refining capability.
Betting big on petrochemicals, the corporate plans to arrange a polypropylene unit at Paradip at a cost of Rs3,150 crore while constructing comparable units at Gujarat and Panipat. The Paradip refinery, he mentioned, is nearing mechanical completion and the petrochemical challenge will thereafter take 36-39 months to finish.