In a bid to strengthen its various divisions, including storage and retail, over the next three-four years, public sector undertaking Indian Oil Corporation (IOC) is planning to invest around Rs 1,500 crore in the Northeast.
IndianOil-AOD, the company’s Northeast division, is scouting for land in states such as Assam, Tripura and Mizoram to increase storage capacities of petroleum products.
Out of total, about Rs 1,250 crore will be put in to ramp up the storages of petrol, diesel and kerosene, while Rs 150 crore and Rs 50 crore will go for enhancing LPG storage capacities and increasing the number of retail outlets, respectively.
IOC is the largest enterprise in the country and the foremost ranked Fortune Global 500 Company in India and has presence in the complete hydrocarbon value chain from downstream refining & marketing, pipeline transportation, Petrochemicals, E&P and Gas Marketing.