IndianOil to commission Rs. 30,000 crore worth projects
New Delhi   05-Apr-2009
<b>Work on grassroots refinery at Paradip progressing</b> IndianOil will commission refinery projects worth Rs. 30,000 crore in the current year, including the introduction of Euro IV norms petrol and diesel in 13 cities by early next year. Stating that IndianOil was all set to strengthen its leadership in the refining sector as well as to secure the country’s growing energy needs, IndianOil Director (Refineries) Mr. B. N. Bankapur said that construction of the 15 million tonnes grassroots refinery at Paradip on the East Coast was going on at a fast pace. Work had already started on a full swing on the Rs. 29,777-crore projects scheduled for completion by the year 2012. It is the single largest investment undertaken by IndianOil and one of the largest of its kind in the petroleum industry. The director said the refinery division had its task cut out in the new fiscal which would witness a number of strategically important projects getting implemented. These projects include capacity augmentation, distillate yield improvement, reduction in the bottom of the barrel, quality improvement for petrol and diesel and value addition through diversification into petrochemicals. “This is the first time in the history of IndianOil that projects worth almost Rs. 30,000 crore spread over all the refineries will be simultaneously commissioned,” Mr. Bankapur added. He said IndianOil was all geared up for meeting the new fuel standards for petrol and diesel and assured that the country’s shift towards Euro IV norms in 13 metro and cities and Euro III in small townships would not stand hampered. He said IndianOil was on the way to successfully implement these projects that would enhance the quality of fuel. IndianOil, he said, achieved a record crude throughput of 49.16 million tonnes during 2008-09, registering a growth of 3.7 per cent in crude processing over the previous fiscal. The refineries division thus garnered a capacity utilisation of more than 103 per cent and also achieved the highest-ever combined distillate yield of 74.6 wt per cent surpassing the previous best of 73.7 wt per cent in 2007-08.