Indian Oil to invest $944 million on gas sales network in nine new areas
Zee News
The new licences awarded to IOC relate to major districts of some states.
New Delhi: Indian Oil Corp, the country`s top refiner and fuel retailer, aims to invest 70 billion rupees ($944.02 million) to build gas sales network infrastructure, including pipelines, in new areas, the company said on Sunday.
IOC said it has obtained nine licences to sell gas to households, automobiles and small industries, representing about a third of the demand potential in 61 geographical areas in various states that were recently auctioned by the Petroleum and Natural Gas Board.
The new licences awarded to IOC relate to major districts of some states.
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