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Indian Oil lays out Rs 26,143 crore capex plan for FY21

State-run Indian Oil Corporation (IOC), India’s largest gasoline retailer, has ramped up works in 336 tasks value Rs 1.04 lakh crore instantly after the nationwide lockdown was eased and is more likely to obtain the Rs 26,143 crore capex goal within the present monetary yr.

“IndianOil [IOC] has targeted a capex of Rs 26,143 crore during FY 20-21 and in the first quarter achieved an approx. expenditure of Rs 2,674 crore, overcoming various issues faced on-ground due to the Covid-19 pandemic,” the corporate mentioned in a press release. It mentioned that the corporate resumed work at its varied undertaking websites throughout the nation from April 20.

Since the easing of the lockdown, IOC commenced works on 336 tasks which have funding of greater than Rs 1 crore in every undertaking, at an anticipated undertaking value totalling Rs 1.04 lakh crore, it mentioned. An quantity of about Rs 1,764 crore was spent on these ongoing tasks until the top of June 2020. Additionally, greater than 50 tasks have additionally resumed since July 1, 2020, as per the assertion

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