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IndianOil plans to invest in Gujarat
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IndianOil plans to invest in Gujarat

Agency News

Ahmedabad, Aug 13: Indian Oil, the leading public sector oil and gas company, has decided to invest Rs 492 crores in Gujarat during the financial year 2019-20 to expand its supply and distribution points across the state, IndianOil Executive Director of Corporate Communication and Branding said here on Tuesday.

"The company is keen to expand its supply and distribution points across Gujarat," said State Executive Director SS Lamba at a press meet.

Currently, IndianOil Gujarat commands a market share of 53 per cent amongst PSUs and 37 pc in the industry for Petroleum, Oils, and Lubricants (also known as POL) products.

The new investments include capacity augmentation of Kandla import terminal from 0.6 to 2.5 MMTPA (million metric tonnes per annum), of additional storage facilities at various Terminals, including providing 15 days cover for Ethanol and setting up of about 200 new retail outlets by the end of this financial year.

IndianOil has contributed more than Rs 12,000 crore to the state exchequer during the last two financial years. (UNI)