State-run Indian Oil Corporation (IOC) today said it will be investing Rs 6,800 crore on capacity expansion and improving fuel quality at its Gujarat refinery unit.
IOC is looking at setting up a greenfield refinery on the West coast as part of its expansion plans, a top company official has said.
State-run IOC had already cut throughput at five refineries in September after heavy rains curbed demand for diesel in northern and eastern regions of the country.<br />
RIL had posted Rs 5,873 crore profit in the April-September quarter of last fiscal, 2013-14.<br />
Gas production from Krishna Godavari basin block has dropped to just over 12 mmscmd and RIL is carrying out workover on main Dhirubhai-1 and 3 gas fields.<br />
At present, 26 cities, including Delhi, Mumbai, Chennai, Ahmedabad and Lucknow, use Euro-IV equivalent fuels, also known as BS-IV fuels, while motorists in the rest of the country use BS-III fuels.<br />
Punj Lloyd's scope of work in the RAPID Tank Farm Project includes project management, design, engineering, interface with other contractors and third parties,
According to the data released by the government, the output of eight infrastructure industries in April-November grew by a mere 2.5 percent against 6.7 percent in the same period of the last fiscal.
Essar Oil had moved the Supreme Court on October 4 seeking more time for paying outstanding sales tax dues to Gujarat government on the ground that it was facing financial constraints due to economic slowdown and was not given tax benefits unlike other refineries.<br /><br />
Moily said that Indian firms had the expertise and wished to participate in building oil refineries, petrochemicals plants and fertiliser units in Iraq.<br /><br />
State-owned Hindustan Petroleum Corp Ltd has approved the incorporation of a joint venture company to set up Rs 37,320-crore oil refinery and petrochemical complex in Rajasthan.
Vedanta Aluminium, a unit of billionaire Anil Agarwal-controlled Vedanta Group, plans to shut its alumina refinery in Odisha from Dec 5 due to shortages of bauxite, a company official said on Thursday.