NEW DELHI: Indian Oil Corporation (IOCNSE 0.52 %), the nation’s biggest oil firm, on Wednesday said with easing of lockdown restrictions, it has resumed work on projects worth Rs 1.04 lakh crore which will help address future energy demand as well as kickstart the economy.
IOC said it is on track to achieve its planned capital spending of Rs 26,143 crore in the fiscal to March 2021, but future capex depends on long-term demand potential in the country.
“Since the easing of the lockdown, IOC has commenced works on 336 projects…at an anticipated project cost totalling to Rs 1.04 lakh crore,” the company said in a statement.
