Indian Oil Corporation (IOC) has plans to invest Rs 5,000 crore for expanding its Koyali refinery capacity in Gujarat from 13.7 mtpa to 18 mtpa refinery. The plan will be in place once land is acquired IOC’s board will take a decision on the plan soon as it will have to acquire additional land for the project. Once the board approves the decision, the expansion will take two-three years.
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