Indian Oil Corp will expand the capacity of its Panipat refinery to 15 million tonnes a year by end 2009 and will complete a naphtha cracker complex by September next year.

The company is investing Rs 806 crore in expanding the refining capacity that will also make the unit capable of producing Euro-III and Euro IV petrol and diesel.

Last year, the company had invested Rs 4,165 crore in doubling the Panipat refinery capacity to 12 million tonnes.