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IOC to invest around Rs 20,000 in 2017-18; plans expansion, acquisitions

Between 2012-17, IOC ended up investing Rs 75,000 cr against a target of Rs 56,200 cr

T E Narasimhan & Gireesh Babu  |  Chennai 

Continuing its capital expenditure plan, Indian Oil Corporation (IOCL) said it will invest around Rs 20,000 crore in 2017-18. The company is also looking for acquisitions and plans to expand overseas. IOCL Chairman B Ashok said the company always believed to be ahead of the demand. He said supply position has to be ahead of demand, for which plans for additional refineries, expanding capacities, building pipelines etc have been aggressive. Last year too, IOC had invested close to Rs 20,000 crore, including around Rs 16,000 crore in various Indian projects and on acquisition ...

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First Published: Tue, May 16 2017. 17:11 IST
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