The Indian Oil Corporation Ltd (IOCL) plans to raise as much as ₹60 bln via local-currency bonds this financial year, the company’s director finance Sandeep Kumar Gupta said in New Delhi, news agency Bloomberg reported.
IOCL, the country’s largest state-owned downstream petroleum company by earnings, plans to spend ₹250 billion as capital expenditure this fiscal, of which it has already spent ₹95 billion through end-September, Gupta said.
The company’s core businesses comprise refining, transportation, and marketing of petroleum products. Over the years, Indian Oil has not only expanded downstream gas marketing in the country but also ventured into petrochemicals.
