Indian Oil Corporation to invest Rs 1.75 trillion over 7 years
Country’s largest oil refiner Indian Oil Corporation(IOC) on Tuesday said it will be investing Rs 1.75 trillion over the next seven years to expand output by 54 per cent to around 100 million tonnes per annum. “We have a capex plan of Rs 1.75 trillion over the next seven years. And out of this, Rs 50,000 crore will be for brownfield expansion at existing facilities,” its chairman B Ashok told reporters after the company’s 56th annual general meeting here. He said the investment will increase its total output to close to 100 million tonnes per annum from the present 65 million tonnes.