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Indian Oil Corp plans over US$ 21 million investment in next 5 years to double production capacity

Indian Oil Corp plans over US$ 21 million investment in next 5 years to double production capacity
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State-owned Indian Oil Corporation (IOC) is planning a mega-investment of Rs 1.4 lakh crore (US$21.46 million) in a bid to double its annual production capacity to 3.2 million barrels per day by 2030, said its head of refineries on Saturday. The move has been announced at a time when the Indian oil industry is planning to boost capacity, which would help the country reduce dependency on external sources.

Read the full story at http://www.timesnownews.com/business-economy/companies/article/indian-oil-corporation-over-rs-1-lakh-crore-investment-double-production-capability-by-2030-in-next-five-years/212851

SOURCE: Times Now News

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