State-owned oil companies will invest over Rs 77,500 crore in adding 44.2 million tonne (mt) of refining capacity by 2012. Indian Oil Corporation Ltd is investing Rs 29,777 crore to set a refinery of 15 mt per annum capacity at Paradip in Orissa.

Bharat Petroleum Corporation Ltd’s joint venture is investing Rs 11,397 crore in a six mt unit at Bina in Madhya Pradesh, while Hindustan Petroleum Corporation Ltd (HPCL) is building a nine mt refinery at Bhatinda in Punjab at a cost of Rs 18,919 crore. Besides, Mangalore Refinery & Petrochemicals Ltd is expanding its 11.82 mt refinery to 15 mt by investing Rs 12,412 crore.

Other projects include Rs 2,869 crore expansion of IOCL's Haldia refinery by 1.5 mt to 7.5 mt and Panipat unit expansion to 15 mt from 12 mt at Rs 1,008 crore. HPCL will expand its 5.5 mt Mumbai refinery to 7.9 mt at a cost of Rs 295.46 crore and 7.5 mt Visakhapatnam unit to 10 mt at Rs 280 crore. Chennai Petroleum Corporation Ltd is investing Rs 500.41 crore in expanding its 9.5 mt Manali unit to 11.1 mt.