SINGAPORE: Indian Oil Corp's Gujarat oil refinery will be ready to produce 700,000 tonnes per year of low-sulphur marine fuel starting in October, the company's Director for Refineries S.M. Vaidya said on Tuesday.

IOC's Haldia refinery will start in December to produce 300,000 tonnes per year of marine fuels that meet the new low-sulphur specifications, Vaidya said during a speech at the Asia Pacific Petroleum Conference.

India's marine fuel demand is about 1 million tonnes per year, he said.

Vaidya also forecast that India will add 190 million tonnes per year of refining capacity over the next 11 years.