IOC to invest $1.87bn in Koyali refinery
New Delhi   16-Sep-2011

IndianOil is mulling investing $1.87 billion to raise capacity at its Koyali refinery in Gujarat. "The board is likely to take up shortly the recommendations of an internal team that suggested the company should increase Koyali capacity from 13.7 million tonnes to 18 million tonnes and not 16 million tonnes originally envisaged," a company official said. A consultant would be appointed by December to prepare a detailed feasibility report for the capacity expansion. The project may take 36-40 months to complete.