Indian Oil on Friday laid out a Rs 4 lakh crore roadmap for becoming a ‘360-degree’ energy company by pushing energy transition projects along with expansion of refining and petrochemicals capacities.
“As India’s energy custodians, your company has crafted a clear roadmap to drive India’s energy destiny. To fuel the rising energy demand of an ascendant India, we are committed to increasing our share in India’s energy pie from the current 9% to around 12.5% by 2050,” chairman Shrikant Madhav Vaidya told shareholders at the AGM.
The company will spend Rs 1 lakh crore on expanding refining capacity and Rs 2.4 lakh crore on projects for achieving net-zero carbon emissions from its operations.
