IndianOil to invest Rs 500 cr in R&D
New Delhi   13-Mar-2008
Indian Oil Corporation will invest about Rs 500 crore in downstream research and development during the 11th Five-Year Plan ending 2012 to maintain its leadership position, company Chairman, Mr Sarthak Behuria, said today. Speaking at the 6th International Symposium on Fuels and Lubricants (ISFL-2008), he said IndianOil has till date invested close to Rs 1,000 crore in setting up world-class facilities at its R&D Centre located at Faridabad. While continuing with cutting-edge R&D in lubricants formulation, the centre is now focusing its research on new areas like residue gassification, coal-to-liquid & gas-to-liquid processes, petrochemicals, synthetic lubricants and nano-technology, he added.