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#1
13th January 2007, 08:29 PM
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Indian Oil Corporation.
IOC plans to invest Rs 2,000 cr in JV
13 Jan, 2007 PANIPAT: Indian Oil Corporation said it plans to invest about Rs 2,000 crore in a joint venture with Reliance Industries for retailing natural gas to households and automobiles. "We are in talks for a 50:50 JV for city gas distribution project along the pipeline Reliance Industries is building from its KG basin field," IOC Chairman Sarthak Behuria said. RIL is building pipleines from Kakinada in Andhra Pradesh to Chennai in South, Ahemdabad in West and Haldia in East. The proposed JV will supply piped gas to households and industries and CNG to automobiles in cities falling along the route of these pipelines. Behuria said per city investment would be around Rs 200 crore and initially 10 cities have been identified. -------------------------------------------------------------------------- Does this news will effect its price??? On 12th Jan it was already up by 5.72% What are the views of experts? 
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Re: Indian Oil Corporation.
