INDIAN OIL CORPORATION LTD. - Disclosure Of Information Under Regulation 30 Of SEBI (LODR) Regulations 2015- Investment Proposal For Capacity Expansion Of Panipat Refinery From 15 MMTPA To 25 MMTPA

Pursuant to Regulation 30 read with Part A of Schedule Ill of SEBI (LODR) Regulations 2015, it is hereby notified that the Board of lndianOil at its meeting held on 26th February 2021 has accorded its approval for capital investment for capacity expansion of Panipat Refinery from 15 MMTPA to 25 MMTPA along with installation of Polypropylene Unit and Catalytic Dewaxing Unit at an estimated cost of Rs.32,946 crore. The project is expected to be commissioned by September 2024.<BR> <BR> The capacity expansion would improve the operational flexibility of the Refinery to meet the domestic energy demand and would also enhance the petrochemicals intensity. The increased production of petrochemicals and value added specialty products would not only improve the margins but also de-risk the conventional fuel business of the company.<BR> <BR>