Indian Oil Corporation (IOC) is going to invest Rs 492 crore in Gujarat this fiscal to augment capacity and to expand its distribution network. The major chunk of this investment will go into augmenting the capacity of IOC's LPG import terminal at Kandla and towards adding storage facilities at various other terminals.
Looking at the future demand projections, IOC has also planned to commission about 200 new pumps by the end of this financial year. In addition, IOC is also targeting to commission 50 new CNG stations during this year.
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.