PSU refiners which include three oil marketing companies (OMCs) and another three standalone refineries have spent Rs. 30,065 crore on fuel quality upgradation projects. Fuel quality upgradation project was undertaken to meet various vehicular emission norms as set out in National Auto Fuel Policy, 2003. Indian Oil Corporation, being the largest refiner, has spent the highest amount among all the PSU refiners.
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It should be noted that Rs. 30,065 spent by the PSU refiners is in addition to the investment of Rs. 10,000 crore made to achieve Euro-I auto fuel specifications. In addition to the investment made by the PSU refiners, the automobile industry too is estimated to have spent Rs. 25,000 crroe to meet the emission norms. It may be noted that the phasing out of 2 stroke engine for two wheelers, the stoppage of production of Maruti 800 and introduction of electronic controls have been due to the regulations related to vehicular emissions.
As part of the National Auto Fuel Policy, BS-IV grade fuels have been introduced in 33 districts of the country as of September 1, 2013 and seven more cities are to be covered before March, 2014.
