IOC to invest Rs. 961 cr in nuclear project
New Delhi   19-Nov-2010

IndianOil (IOC) will invest Rs. 961 crore in a nuclear power plant being built jointly with Nuclear Power Corp. of India Ltd, petroleum minister Murli Deora said.

The New Delhi-based refiner will take a 26% stake in the Rajasthan atomic power project, and has the option to raise its share to 49%, Deora told lawmakers on 16 November, according to a government press statement.

The atomic project will cost a total of Rs. 12,321 crore, Deora said. The IOC board approved the investment in September, he said.