IOC seeks partner for LNG tmnl

Indian Oil Corporation (IOC) will invest around Rs 14,000 crore during the current fiscal and would soon look for a partner for its Rs 10,000 crore LNG terminal project near Chennai. The underrecovery for the industry during the fourth quarter stood at around Rs 6,900 crore of which IOC’s was almost half. At present, the company has 19,000 retail outlets of which 1600 outlets will be taken up for automation and the rest will be in 12 months.