State-owned oil and gas corporation Indian Oil Corp recently announced it will be investing Rs 8,000 crore to expand its refinery located in Koyali, Gujarat, India. The company intends to grow the facility's refining capacity to 18 million tonnes per year by 2017, according to The Hindu Business Line. Currently, its capacity sits at 13.7 million tonnes per year.
This expansion project will make the Gujarat refinery the largest of all of IOC's properties. It will also help the company process more high-sulfur crude, which is cheaper than other types of oil. During the 2012 and 2013 fiscal years, only 51.5 percent of the refinery's processed crude was high sulfur, but this number already increased to 54.4 percent during the first quarter of the current fiscal year, The Economic Times reported.
Safety will also be at the forefront of the Gujarat refinery's new mission. A company statement announced it has partnered with DuPont, a firm that specializes in employee safety, to educate workers about proper operation of the refinery.
"The Rs 20 crore Indian Oil-DuPont Safety Partnership for safety improvement is being implemented in IOC for the first time in Gujarat Refinery," the statement said.