Indian Oil subsidiary to set up ₹29,300 cr refinery in Tamil Nadu

The Indian Oil Corporation's (IOC) board has approved the setting up of a new facility to process crude oil in Nagapattinam in Tamil Nadu at an estimated cost of ₹29,361 crore. The plant will be established by IOC's subsidiary, Chennai Petroleum Corporation Limited, with an aim "to meet the demand of petroleum products in southern India".