IOC makes Rs 4/lt on petrol, loses Rs 50cr/day

 "With large investments in quality upgradation facilities at our refineries, the company has taken a lead in fully complying with the stipulated environment norms and regulations," Sarthak Behuria, chairman of IOC, said.

The company has also drawn plans to invest Rs 40,000 crore in adding refining capacity and petrochemical business, he added.

B Bankapur, director (refineries), said the upgradation project for the has been designed to produce 850,000 tonnes of petrol at a cost of Rs 450 crore.