Indian Oil's joint venture with Adani Gas to invest Rs 2,500 crore
Indian Oil Corporation's joint venture (JV) with Adani Gas Pvt Ltd, the IndianOil-Adani Gas Pvt Ltd has plans to invest 25 billion rupees, over four years as it looks to double gas sales to small industries and households in India.
The firm which has an equal joint venture with refiner Indian Oil Corp and Adani Total Gas, and daily sells about 1 million standard cubic meters of gas through its 300 retail outlets. Joint venture aims to double gas sales in four years and strengthen infrastructure to more than 600 retail outlets during the period to meet India's rising gas demand.