IOC to invest $9.35 mn to raise Digboi refinery capacity

State-owned Indian Oil Corporation (IOC) will invest over $9.35 mn (Rs 740 crore) to raise the capacity of the nation’s oldest oil refinery at Digboi in Assam.

IOC said its board has approved raising of Digboi refinery capacity from 0.65 million tonnes per annum to 1 million tonnes along with associated facilities at an estimated cost of $9.35 mn (Rs 740.20 crore).

The project is expected to be commissioned by October 2025. The capacity expansion would improve the profitability of the Digboi refinery.

Digboi refinery was commissioned on December 11, 1901, and is India’s oldest operating refinery and one of the oldest operating refineries in the world.

Previously owned and operated by the Assam Oil Company Limited/Burmah Oil Company, it came into the IOC fold by an Act of Parliament on October 14, 1981, and became the Assam Oil Division of the company.

Digboi refinery’s current product portfolio includes LPG, petrol and diesel, fuel oil and sulfur.