IOC to meet Euro-IV deadline, investing over Rs 12,000 crore

New Delhi, Sept 2 (ANI): In order to meet the deadline of producing Euro-III and Euro-IV grade petrol and diesel from April 2010, the Indian Oil Corporation (IOC), the country's largest refiner, is investing over Rs 12,000 crore to upgrade its seven refineries.

IOC Director (Refineries) B. N. Bankapur said, "All our refineries are on schedule to meet the Euro-III and Euro-IV deadline."

Petrol and diesel meeting the stringent Euro-IV specifications is to be supplied in seven metro cities of Delhi, Mumbai, Chennai, Kolkata, Bangalore, Hyderabad and Ahmedabad from April 1, 2010 and for the rest of the country Euro-III grade fuel is to be supplied from that date.

Doubts had been expressed about meeting the April 1, 2010 deadline after an industry representation by IOC, Hindustan Petroleum Corporation Limited (HPCL) and Bharat Petroleum Corporation Limited (BPCL) sought postponement of the schedule to 2015 for cleaner fuel. However, the Petroleum Ministry was reluctant to extend the deadline to 2015 and directed the refiners to expedite the upgradation of their units. (ANI)