IOC to invest about Rs. 1,000 crore in Kerala by 2016-17.

Public sector Indian Oil Corporation (IOC) will invest about Rs. 1,000 crore by 2016-17 in Kerala to set up various facilties, including an integrated Rs. 600-crore LPG import facility at nearby Puthuvypeen.

The Puthuvypeen project, which will have a capacity of 0.6 million tonnes per annum, is scheduled to be commissioned by 2016-17 to meet the requirements of Kerala and neighbouring states, IOC General Manager (Kerala and Lakshadweep) told reporters.

ET