Barauni Refinery is an oil refinery located in Begusarai city in the state of Bihar, operated by Indian Oil Corporation (IOCL). It was the dream project of Shri Krishna Singh the first chief minister of Bihar. It was built in collaboration with the Soviet Union, with limited participation from Romania, at a cost of Rs. 49.4 crores and went on stream in July 1964. The initial capacity of 1 million tonnes per year was expanded to 3 million tonnes per year by 1969. The present capacity of this refinery is 6.100 million tonnes per year. Indian Oil Corporation has been constructing to expand its capacity from 6 million tonnes per year to 9 million tonnes per year at the cost of $1.94 billion.