Indian Oil Corporation (IOC) has received an approval from the Gujarat government to acquire 75 acres of land in three villages in the state in order to begin the expansion of its refinery. This approval will enable the company to begin the Rs 10,000 crore expansion plan of the Gujarat refinery. The expansion will involve the company setting up new units which will increase the overall capacity to 18 MTPA (metric tonnes per annum) from 13.7 MTPA.

IOC is the largest enterprise in the country and the foremost ranked Fortune Global 500 Company in India and has presence in the complete hydrocarbon value chain from downstream refining & marketing, pipeline transportation, Petrochemicals, E&P and Gas Marketing.