IndianOil plans to raise R&D investment by 40% to Rs 350 cr

“The proposed investment is to create a strong research R&D base in refinery processes, product formulations, pipeline transportation and alternative fuels with a view to minimising/eliminating imports and to have next-generation products," R K Malhotra, director (R&D), IOC, said on the sidelines of a conference here on Tuesday.

The company’s current spending on R&D is Rs 250 crore.

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