IOC is planning to expand the refining capacity of Panipat Refinery in Haryana and Koyali refinery in Gujarat. The capacity of its Panipat Refinery will be increased to 20.2 MMTPA from the existing 12 MMTPA. The project is estimated to cost Rs 9,100crore. EIL is carrying out a feasibility study of the project. IOC is also expanding the capacity of its Koyali refinery to 18 MMTPA from the existing 13.7 MMTPA. The project is estimated to cost Rs 8,000 crore and is expected to be complete by 2016-17. The detailed feasibility report (DFR) for the expansion of the project is expected by June 2014.
In addition to these two expansion projects, IOC is also searching for a suitable location for a Greenfield refinery on western coast. Though the details of the project are not yet made public, the PSU oil marketing company is expected to spend Rs 35,000 crore on the project.