IOC plans to open LPG bottling plant in Mizoram, upgrade 100 outlets in NE

State-owned Indian Oil Corp (IOC) is looking to set up an LPG bottling plant in Mizoram, besides upgrading 100 retail outlets across the Northeast in the next financial year, a senior official said.

The company is currently in talks with the Mizoram government for setting up the bottling plant in the state, said G Ramesh, chief general manager of the IOC.

The company would upgrade 100 retail outlets across the Northeast at an estimated cost of about Rs 50 crore in the next financial year, he added.

IOC is also looking to commission at least nine retail outlets in Mizoram in the forthcoming fiscal, Ramesh said.

Indian Oil plans Rs 2 trn investment by 2024 to meet energy needs: Chairman

Indian Oil Corp, the country's top refiner, plans to invest Rs 2 trillion ($27.98 billion) in five-seven years to meet energy needs of diverse user groups, Chairman Sanjiv Singh told a shareholders meeting on Wednesday.

IOC through its 11 refineries controls about a third of India's 5 million-barrel-per-day (bpd) refining capacity.

Singh said the investment was required to help IOC "evolve into a future ready corporate that provides comprehensive energy solutions to diverse user groups".

The company is investing over Rs 20,000 crore by 2023-24 to expand its petrochemicals capacity and another Rs 10,000 crore in eight years for expansion of city gas distribution projects in the country, he said.