Indian Oil Corp to achieve Rs 26,143 crore capex in FY21

State-run Indian Oil Corporation (IOC), the country’s biggest fuel retailer, has ramped up works in 336 projects worth Rs 1.04 lakh crore immediately after the nationwide lockdown restrictions, which were imposed since March 25 to contain the spread of the coronavirus disease (Covid-19) outbreak, were eased and likely to achieve the Rs 26,143 crore capital expenditures (capex) target in the current financial year, 2020-21.

“Indian Oil [IOC] has targeted a capex of Rs 26,143 crore during the financial year 2020-21 and in the first quarter achieved an approximate expenditure of Rs 2,674 crore, overcoming various issues faced on-ground due to the Covid-19 pandemic,” the company said in a statement.

It said that the company resumed works at its various project sites across the country from April 20.