IndianOil to double R&D funds
New Delhi   06-Nov-2009
State-run IndianOil has proposed to double its investments on research and development in order to develop new technologies, a top company official said on Thursday. The company, which has been spending Rs 100 crore annually on its R&D, hopes to double it this year to focus more on new technologies, Chairman Mr. Behuria told reporters. "We are developing indigenous technology. We are spending Rs 100 crore on the R&D focusing on technologies. Now we are taking it to Rs 200 crore," he said.