Indian Oil Corporation Limited (IOCL) has announced that it will invest Rs 700 billion to expand its refining capacity from the current 80.7 million tonnes per annum (mtpa) to 116.55 mtpa by 2030. IOCL also plans to upgrade major units at existing refineries to help produce cleaner Euro-VI or Bharat Stage (BS)-VI grade petrol and diesel by April 2020.
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