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State to get `492 cr investment from IOC in FY 2019-20

DNAHM129592 | 8/14/2019 | Author : DNA Correspondent | WC :349 | Business & Economy



With an idea of expanding the retail network, Indian Oil Corporation (IOC) will invest Rs 492 crore in Gujarat in the financial year 2019-20, said a top company official on Tuesday during media press brief.
The investment mainly focuses on the augmentation of Kandla terminal.
The oil marketing compay (OMC) also reiterated that it is fully prepared to meet the requirement of Bharat Stage – VI (BS-VI) petrol norms.
Talking to media persons, Subodh Dakwale, Executive Director of IOC said that Gujarat is a major hub for the company in terms of refining capacity, pipeline network, import of petroleum products and its large coastline is used to cater to the petroleum demand of the northern states.
Meanwhile, S S Lamba, Exec
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