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Indian Oil Corporation (IOC) to invest over Rs 37,000 cr in Tamil Nadu

Indian Oil Corporation (IOC) to invest over Rs 37,000 cr in Tamil Nadu

Sentinel Digital DeskBy : Sentinel Digital Desk

  |  23 Aug 2018 2:03 PM GMT

Chennai: Energy major Indian Oil Corporation (IOC) will be investing about Rs 7,112 crore in infrastructure facilities in Tamil Nadu over the next three years, said a senior official. At the IOC group level — IOC and group company Chennai Petroleum Corporation Ltd — will be investing about Rs 37,112 crore in Tamil Nadu.

“The investments will be in pipeline expansion, construction of captive jetty, additional facilities for petrol and diesel handling, POL (petroleum, oils and lubricants) terminals at an outlay of Rs,7,112 crore in the next three years,” R. Sitharthan, Executive Director - Tamil Nadu and Puducherry, told IANS. He said, group company Chennai Petroleum will be expanding its refinery capacity at Narimanam to nine million ton per annum at an outlay of about Rs 30,000 crore.

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