September 30, 2016 / 6:11 AM / a year ago

BRIEF-Indian Oil Corpn gets approval for expansion of Barauni refinery for 82.87 bln rupeees

Sept 30 (Reuters) - Indian Oil

* Gets approval for expansion of Barauni refinery from 6 MMTPA to 9 MMTPA at cost of 82.87 billion rupeees

* Gets approval to implement Olefin recovery project along with expansion, modification of existing units at about 15.27 billion rupees Source text: [Indian Oil Corporation Limited has informed the Exchange that the Board of Directors at its meeting held on 29th September, 2016 has accorded approval for the following projects :- 1) In-principle approval for expansion of Barauni Refinery from 6 MMTPA capacity to 9 MMTPA capacity alongwith down stream Polypropylene Unit at an estimated cost of Rs.8287 Crore. 2) In-principle approval for implementation of Olefin Recovery Project alongwith Expansion of existing Naphtha Cracker Unit, MEG revamp and Benzene Expansion Unit modifications at Panipat at an estimated cost of Rs.1527 Crore] Further company coverage: (Bengaluru newsroom)

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