Gujarat to get Rs 492 cr investment from IOC in FY 2019-20

  • | Wednesday | 14th August, 2019

With an idea of expanding the retail network, Indian Oil Corporation (IOC) will invest Rs 492 crore in Gujarat in the financial year 2019-20, said a top company official on Tuesday during media press brief. Meanwhile, S S Lamba, Executive Director, Gujarat for IOC said that keeping in mind the future requirements, the company will invest Rs 492 crore in the state this fiscal. With over 1,350 retail outlets (ROs) in Gujarat, IOC has a market presence of 31.9% on an industry basis. It has 154 CNG outlets in the state with about 28.5 % share and has plans to add another 50 this year. "The roll-out of BS-VI fuel is being carried out in a phased manner.

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