IOCL to invest $ 3.5 billion in 2018-19 to expand its marketing network and upgrade its refineries

Indian Oil Corporation Limited (IOCL) will invest $3.5 billion in 2018-19 to expand and upgrade its refineries and boost its marketing network. This will be about 20 per cent more than its investment plans for 2017-18. The company is planning to use its internal resources for the capital expenditure and has no plans to raise loans or issue bonds.