IOC to pump in Rs. 70,000-crore by 2030 to expand refining capacity

摘要

Indian Oil Corp (IOC) is reportedly planning to invest Rs. 70,000-crore to raise its refining capacity by about a quarter by 2030. IOC is looking to expand its refining capacity to 116.55-mn tonnes per annum (mtpa) by 2030 from the current 80.7-mtpa. India's current refining capacity of 247.6-mtpa exceeds consumption but with demand growing at a compounded annual growth rate of 3.5-4 per cent, it will need to add more capacity to meet the rising fuel needs. While the Energy Information Agency of US projects India's demand to reach 434-mt by 2040 from 194-mt currently, IEA puts the number between 450-mt and 492-mt.