IndianOil to pump Rs 5,000 cr into Haldia
New Delhi   30-Nov-2007
State-owned Indian Oil Corp. Ltd will pump in Rs 5,000 crore to ramp up capacity of its Haldia Refinery for which most of the land has been acquired. "IndianOil will invest Rs 5,000 crore to increase the capacity of Haldia Refinery from the present 5 million tonnes (mt) to 7.5mt," company chairman S. Behuria said on Thursday. "Apart from the expansion, a new plant for making Paraxylene, raw material for MCC PTA, would also be set up," Behuria said. Stating that the company would require 86 acre for undertaking the capacity expansion, Behuria said that most of the land has been acquired. Turning to the spiraling prices of crude, Behuria said IndianOil suffered a Rsl20 crore under recovery per day on account of it.