Indian Oil Corp will expand the capacity of its Panipat refinery to 15 million tonnes a year by end 2009 and will complete a naphtha cracker complex by September next year.
"We will complete expansion from 12 million tonnes to 15 million tonnes by December 2009," Indian Oil Corp (IOC) Director (Refineries) B N Bankapur said.
The company is investing Rs 806 crore in expanding the refining capacity that will also make the unit capable of producing Euro-III and Euro IV petrol and diesel.
Last year, the company had invested Rs 4,165 crore in doubling the Panipat refinery capacity to 12 million tonnes.
Bankapur said the naphtha cracker that will use the naphtha stream from the expanded refinery would be completed by September 2009.
"Both the expansion and naphtha cracker complex are to come together," he said indicating that the commissioning of the plant will be synchronised with the expansion.
The complex will help the company produce Paraxylene and PTA that are used in making Polyester Staple Fiber and Polyester Filament Yarn and other resins.
