IOC likely to spend $ 11 billion

New Delhi, Oct 3, 2007: As economic growth is boosting fuel demand in the country, Indian Oil Corporation or IOC, India's largest refiner is likely to invest 11 billion dollars in the next five years to add capacity and build new facilities.

In the next five years IOC will also establish refineries and petrochemical plants, and explore for acquirements out of the country, besides globalization of its marketing operations.

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