Maharatna Oil PSU Indian Oil will invest over Rs 1,300 crore in West Bengal in the next two years. The investments will be in various disciplines that include BS VI compliance of IOC’s Haldia refinery, unveiling diesel emission additives, new retail outlets, solar power modules, ethanol tankers and LPG bottling plant. IOC is setting up a plant to manufacture this diesel emission additive in Budge Budge with an investment of Rs 150 crore. IOC is also augmenting the bio fuel tanking and ethanol tankage capacity across its terminals in West Bengal by 5000 kilo liters. The current tankage capacity of Ethanol is only 400 kilo liters while for bio diesel it is 9,000 KL. The company is investing over Rs 500 crore in its Haldia refinery for switching production line from BS IV to BS VI. The oil major is also adding 100 retail outlets in West Bengal from its current tally of 1,200. “All the new outlets will be company-owned-dealer-operated (CODO) and we are investing Rs 100 crore,” he added.
