Indian Oil Corporation is planning to
invest about Rs.2,000 crore in a joint venture with Reliance Industries for
retailing natural gas to households and automobiles.
IOC are in talks for a 50:50 JV for
undertaking city gas distribution projects along the East-West gas pipeline of
Reliance. RIL is building pipleines from Kakinada in Andhra Pradesh to Chennai,
Ahemdabad in the west and Haldia in the east and is talking to both IOC and GAIL
(India) for setting up city and local gas marketing projects.
IOC has planned a capital expenditure
of Rs.75,000-80,000 crore by March 2008 to upgrade its refining and
petrochemicals capacity at Panipat, Haldia and Gujarat.
Also See:
IOC,
Lanco seek capacity in RIL's pipeline project (03-Jan-07)