IOC executive director Subodh Dakwale said the company would invest Rs 500 crore for setting up a new oil.
Indian Oil Corporation (IOC) plans to nearly double oil refining capacity to 150 mt by 2030.
Hyderabad: Indian Oil Corp will invest Rs 1,387 crore for the construction of various projects in AP and Telangana over the next few years, a senior official said.
Speaking to reporters here on Thursday, IOC executive director Subodh Dakwale said the company would invest Rs 500 crore for setting up a new oil and gas terminal at Malkapur near Chottuppal in Nalgonda district at a cost of Rs 500 crore.
In Andhra Pradesh, he said the company would invest Rs 827 crore for projects, which include the construction of new terminal near Vizag and Guntakal and ramping up of Vijayawada terminal.
( Source : Deccan Chronicle. )
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