Oil India is planning to invest around Rs 12,000 crore in the North East on various projects, including expansion of exploration work and diversification of business by 2017.
As per the proposed plan, the company is likely to spend Rs 1,982 crore in the North East out of the total investment of Rs 3,581 crore planned for the FY14. The company will utilise the amount on activities such as exploring new blocks, diversification, upgrading infrastructure, and general corporate purposes.
The company intends to expand its presence by setting up wind energy projects in the North East.
Also, OIL is investing Rs 871 crore to upgrade its pipelines from Duliajan in Assam to Barauni in Bihar.