Indian Oil Corporation (IOC) has planned to invest Rs 1,660.15 crore as equity in a newly set up joint venture with energy major NTPC Green Energy for setting up renewable power plants. IOC had incorporated the Joint Venture Company with NTPC Green Energy, (a wholly owned subsidiary of NTPC) named IndianOil NTPC Green Energy on June 2, 2023.
The Board at its meeting held on October 13, 2023 has accorded approval to the Investment plan of the JVC for setting up of Renewable Energy Power Plants and approved the equity contribution of up to Rs 1660.15 crore towards Indian Oil’s share of 50% in the equity share capital of the JVC.
Indian Oil Corporation is the largest enterprise in the country and the foremost ranked Fortune Global 500 Company in India and has presence in the complete hydrocarbon value chain from downstream refining & marketing, pipeline transportation, Petrochemicals, E&P and Gas Marketing.
Company Name | CMP |
---|---|
Reliance Industries | 1223.50 |
Indian Oil Corp. | 138.25 |
BPCL | 291.85 |
HPCL | 413.45 |
MRPL | 148.70 |
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