Indian Oil to invest ₹25,083 crore this fiscal

Mumbai: Indian Oil Corp Ltd, India’s largest refining and marketing company will invest ₹25, 083 crore this fiscal to meet its capital expenditure, said Sanjiv Singh, Chairman, Indian Oil Corp Ltd (IOCL).

Last fiscal, IOCL had incurred a capital expenditure of ₹28,200 crore.

IOCL which caters to nearly half of India’s petroleum consumption has been making significant investments in upstream assets and petrochemicals which are contributing to the company’s business in terms of equity oil and profitability.