The board of
Indian Oil Limited in its meeting held on 3rd August has
accorded approval for first stage expansion of company’s Gujarat Refinery from
the existing 13.17 Million Metric Tonnes Per Annum (MMTPA) of crude oil
processing capacity at an estimated capital expenditure (capex) cost of Rs
15,034 crore. The project to augment the refinery’s capacity by 4.3 MMTPA and
will help meet the growing demand for products in the region.
stage approval is for installation of 2nd catalytic de-waxing
unit at Haldia refinery at an estimated cost of Rs 1126 crore. The unit would
produce grade-II & III lube oil base stock. The nod further includes first
stage approval for installation of ethanol plant using gas fermentation
technology of M/s LanzaTech USA at Panipat Refinery at an estimated cost of Rs
441 crore. The technology would help in reduction of refinery carbon emissions
and convert them into value added products. This project has potential of
greenhouse gas reduction required to limit global climate change.
The board has
further Okayed acquisition of upto 50% equity in GSPL LNG Ltd., which is
setting up a 5-MMTPA LNG Terminal at Mundra Port in Gujarat. GSPL LNG Ltd is a
joint venture of Gujarat State Petroleum Corporation (GSPC, a govt of Gujarat
undertaking) and Adani Enterprises Ltd (AEL). The approval is subject to due
diligence which would be carried out in due course.