Aided by a deregulation of fuel sales and oil price crash that have helped slash its debt, Indian Oil Corporation, is set to spend about Rs 45,000 crore over three years to build petrochemicals plants and LNG terminal, lay pipelines and upgrade its refineries. The state-run firm is also likely to benefit from a rise in crude oil prices since January without much price fluctuations, as per economictimes.com
AK Sharma, director ( finance) said, "We want to expand the petrochemicals business fast. The company entered the petrochemicals business just a few years ago but the performance so far has made the company confident of pursuing this segment "aggressively."
08-Apr-15 
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