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A Whooping Investment of INR 1.75 Lakh Crores Planned by IOCL for Scaling Output to 100MT

News:

State-owned oil refiner and marketing company Indian Oil Corporation will invest INR 1,75,000 crore over the next seven years to scale up its output to around 100 million tonnes from 65 million tonnes at present, Chairman and Managing Director said on Tuesday.

Source: ET

SNP Insight :

The capex plans by the state run refiner and marketing company can certainly help in boosting the domestic oil and gas production of the country. The lower global oil prices have in turn provided a headroom for the company to dive into the expansion and upgradation plans.  The supporting infrastructure and pipeline plans comes as a boost for the existing Oil and Gas infrastructure for the company.

Source: SNP Infra Research