Mumbai: Indian Oil Corporation Ltd (IOCL) will spend ₹28,500 crore this fiscal in expanding its operations, against ₹27,000 crores it spent last FY, said two officials from the company . Of this, IOCL will spend around ₹5,000 crore on refineries, ₹5,000 crore on pipelines, ₹1,600 crore on marketing, ₹2,580 crore on petrochemicals, ₹1,500 crore on city gas distribution business, and ₹1,000 crore on other joint venture projects. A few small projects costing below ₹25 crore would make up for the rest of the investment. Presently, IOCL has a portfolio of 230 megawatts of renewable energy consisting of 168 wind and 65 megawatt of solar. For electric vehicles, it now has 257 charging stations and 29 battery swapping stations throughout the country.

Source: Mint June 05, 2021 05:15 UTC