Indian Oil plans ₹2 trillion investment by 2023-24: Chairman Sanjiv Singh
Mumbai: Indian Oil Corp, the country’s top refiner, plans to invest ₹2 trillion ($27.98 billion) in five-seven years to meet energy needs of diverse user groups, chairman Sanjiv Singh told a shareholders meeting on Wednesday.
IOC through its 11 refineries controls about a third of India’s 5 million-barrel-per-day (bpd) refining capacity.
Singh said the investment was required to help IOC “evolve into a future ready corporate that provides comprehensive energy solutions to diverse user groups”.
