State-run Indian Oil Corporation (IOC) has decided to invest Rs 56,000 crore towards capex during the 12th Plan. It has allocated 26% of this for integration and diversification and 74% for core business.
Further, the company is concerned about growing under-recoveries in the absence of timely receipt of compensation. The corporation has been chasing with the Government in this regard, with the expectation that in the interim, the government will continue to provide 100% compensation.