IOC beats lockdown blues, resumes works on projects worth Rs 1.04 trn

Firm started completion of as many as 336 projects since easing of curbs on April 20, and 50 more since July first week

After initial hiccups owing to the lockdown, state-run Indian Oil Corporation (IOC) has resumed work on many of its projects at an anticipated cost of around Rs 1 trillion.

“Since easing of the lockdown on April 20, IndianOil has commenced works on 336 projects that have an investment of more than Rs 1 crore in each project, at an anticipated project cost totalling Rs 1.04 trillion,” the company said in a statement on Wednesday. 

The amount spent on these ongoing projects was about Rs 1,764 crore till the end of June 2020. Additionally, more than 50 projects have also resumed since July