State-owned Indian Oil Corp (IOC) will invest about Rs 8,000 crore to expand capacity at its Koyali oil refinery in Gujarat to 18 million tonnes per annum by 2016-17.
Oil major Essar oil announced their first quarter numbers. Revenues have seen a jump of 37% at Rs 16,478 crore. In an interview with CNBC-TV18, Naresh Nayyar MD and CEO of the company gave his perspective of the first quarter performance and divulged future plans.