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IOC to invest Rs 16,641 crore in Tamil Nadu over next five years
The state refiner’s investment is set to create direct employment for 9,200 people and provide work for at least 10,600 indirectly
Chennai: Indian Oil Corp Ltd (IOC) announced an investment of Rs 16,641 crore in Tamil Nadu to expand its retail outlet network. India's biggest refiner plans to upgrade its infrastructure and lay down gas distribution pipelines since it has signed a Memorandum of Understanding (MoU) with the state government for an investment of Rs 7,941 crore over the next five years.