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Indian Oil to raise refining capacity by 30 percent
India's largest state-run refiner, Indian Oil Corp, is planning to ramp up its capacity by over 30 percent in two years with an investment of Rs.60,000 crore ($12.5 billion), a top official said Tuesday.
Indian Oil's director (refineries) B.N. Bankapur said at the inauguration of the golden jubilee celebrations at the refineries headquarters here that the target was to scale up the refining capacity from the current 60.2 million tonnes per annum (mtpa) to 80 mtpa by 2011-12.
There will be a investment of over Rs.60,000 crore, out of which nearly one-third, Rs.29,770 crore will be spent on Paradip refinery.
Besides, Rs.14,400 crore will be spent on the naptha cracker and polymer complex at Panipat.
This year alone, to mark golden jubilee year, Indian Oil will commission projects worth Rs.30,000 crore.
Last updated on Jun 30th, 2009 at 21:07 pm IST--IANS
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Other News Headlines
Distressed at not getting an adequate price for his produce, a debt-ridden sugarcane farmer allegedly committed suicide. The victim burnt his fields in Uttar Pradesh's Baghpat district and then jumped in the fire, police said Saturday.
An inordinate delay of nearly 30 minutes on the Dwarka-Noida metro route Saturday morning caught people unaware, leading to snaking queues in the metro stations. Tired of waiting, a number of commuters sought refund of their tickets and took other conveyances for their onward journey.
Uttar Pradesh Chief Minister and Bahujan Samaj Party (BSP) president Mayawati has accused the central government of "deliberately delaying" the decision to withdraw the ordinance on sugarcane pricing in order to gain political
A prototype of the light combat helicopter (LCH), designed and developed by the state-run Hindustan Aeronautics Ltd (HAL), is set for its maiden flight soon, a top company official said Friday.
The six new medical colleges and two para-medical colleges coming up in Uttar Pradesh would be run under a public-private partnership (PPP) arrangement.
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