State-owned Indian Oil Corp (IOC) will invest about Rs 8,000 crore to expand capacity at its Koyali oil refinery in Gujarat to 18 million tonnes per annum by 2016-17.
State-run Indian Oil Corp, the country's biggest refiner, plans to expand capacity by 87% to 2.46 million barrels per day (bpd) by 2020-21, its head of refineries said.