Home / Business and Economy / IOC Spends Big: 37% Capex Hit in H1 FY27
IOC Spends Big: 37% Capex Hit in H1 FY27
1 Nov
Summary
- IOC invested ₹12,162 crore, achieving 37% of its FY27 capex target.
- Major investments focus on refining, marketing, and petrochemicals.
- Expansions at Panipat, Gujarat, and Barauni refineries are underway.
Indian Oil Corporation (IOC) has made significant progress towards its capital expenditure goals, investing ₹12,162 crore in the first half of the financial year 2026-27, which represents 37% of its ₹32,700 crore target. This spending is vital for ensuring India can meet escalating demand for petrol, diesel, and LPG.
The company allocated the largest portion of its investment, approximately ₹9,300 crore, to its refining and marketing operations. An additional ₹1,306 crore was channeled into petrochemical projects, alongside investments in pipelines and natural gas infrastructure.
Several large-scale projects are currently in advanced stages. The Paraxylene-Purified Terephthalic Acid (PX-PTA) Complex and the New Mundra-Panipat Crude Oil Pipeline have reached mechanical completion and are undergoing commissioning. Furthermore, three major refinery expansions at Panipat, Gujarat, and Barauni are slated for completion by the end of next month.
IOC is also developing a new research and development campus in Faridabad and a polybutadiene rubber plant in Panipat. In the renewable energy sector, the company plans to significantly increase its capacity over the next five years, investing equity in joint ventures for clean energy projects.
