PSU oil cos to invest over Rs77,500 cr on expansion: Deora

PSU oil cos to invest over Rs77,500 cr on expansion: Deora
PTI
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First Published: Thu, Mar 04 2010. 06 16 PM IST
Updated: Thu, Mar 04 2010. 06 16 PM IST
New Delhi: State-owned oil firms will invest over Rs77,500 crore in adding 44.2 million tonnes of refining capacity by 2012, Union petroleum minister Murli Deora said on Thursday.
In a written reply, Deora told Lok Sabha that Indian Oil Corp is investing Rs29,777 crore in building a new refinery at Paradip in Orissa with an annual production capacity of 15 million tonnes.
Bharat Petroleum Corp’s joint venture is investing Rs11,397 crore in a 6 million tonnes unit at Bina in Madhya Pradesh, while Hindustan Petroleum Corp is spending Rs18,919 crore in building a 9 million tonnes refinery at Bhatinda in Punjab.
Besides, Mangalore Refinery is investing Rs12,412 crore in expanding its 11.82 million tonnes refinery to 15 million tonnes.
These and other capacity additions would raise India’s oil refining capacity to 153.832 million tonnes by the end of XIth Five Year Plan (2007-12) from 109.586 million tonnes currently, he said.
Other capacity addition projects include Rs2,869 crore expansion of IOC’s Haldia refinery by 1.5 million tonnes to 7.5 million tonnes and Panipat unit expansion to 15 million tonnes (from 12 million tonnes) at Rs1,008 crore.
HPCL will expand its 5.5 million tonnes Mumbai refinery to 7.9 million tonnes at a cost of Rs295.46 crore and 7.5 million tonnes Vizag unit to 10 million tonnes at Rs280 crore investment. Chennai Petroleum Corp is investing Rs500.41 crore in expanding its 9.5 million tonnes Manali unit to 11.1 million tonnes, he added.
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First Published: Thu, Mar 04 2010. 06 16 PM IST