Indian Oil Company to diversify into power and petrochemicals

Jan 30, 1997 01:00 AM

Jan 16, 1997 Indian Oil Corp. (IOC) plans to diversify into areas such as power generation and petrochemicals, the Press Trust of India (PTI) reported. The state-run company would set up thermal or gas-based power projects in the cities of Panipat, Baroda, Mathura, Haldia and Bhatinda in the coming years, IOC chairman R.K. Narang was quoted as saying. The IOC, which runs six refineries, is the only Indian company to figure in the Fortune-500 list of the world's richest firms.

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