EOL plans to invest Rs 16 billion to double capacity at Vadinar refinery

Essar Oil Limited is planning to invest Rs 16 billion for doubling the capacity of its Vadinar refinery. The investment is aimed at earning an additional $1.50 per barrel on it gross refining margin. Most of the investment will be made by 2017 and benefits will start flowing in from fiscal year 2018-19. The land, clearances and infrastructure are already in place.