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Cash rich IOC on high octane expansion spree
Aug 30: Freed from subsidizing petrol and diesel, cash rich Indian Oil Corporation is now on an unprecedented expansion spree. Here are some highlights:
8It plans to invest Rs 20,000 crore in CGD projects
8It plans to set up MEG, PX-PTA projects in Paradip whiole also anchoring business parts for plastics all across the area
8A proposal for a world class Oxo Alcohol plant is being pursued
8It is looking at alliances with foreign companies for create innovative business models. Make look for equity in a larger number of smaller private firms
8It is looking at proprietary internals and hardware for indigenizing refinery and petrochemical technology. One step forward is the catalyst manufacturing unit of 1500 MMTPA at Panipat at a cost of Rs 200 crore
8Next generation alcohols from refinery off gases is going to off a new series of investment. Currently, it has set up one such unit using the Lanzatech technology, the first of its kind in the world
8EV charging stations are being set up in collaboration with power companies
8It plans to expand its downstream markeing to Singapore, Bangladesh, Myanmar. Offices are being set up in Nepal and Bhutan too
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