IOC to invest Rs 740 crore to raise Digboi refinery capacity in Assam

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

In a stock exchange filing, 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 Rs 740.20 crore.

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