IOCL to form a subsidiary to undertake green energy businesses

The board of IOCL has accorded approval for formation of a wholly-owned subsidiary in India, to operate in the domain of low carbon, new, clean and green energy businesses. The proposed wholly-owned subsidiary will focus and pursue IOCL’s low carbon and green energy business to meet the operational requirements of the net-zero target and beyond. The formation of subsidiary is subject to approval of NITI Aayog and the Department of In­vestment and Public Asset Management (DIPAM).