The Board of Indian Oil Corporation Limited (IOCL) has accorded approval for formation of a wholly owned subsidiary in India, to operate in the domain of low carbon, new, clean and green energy businesses.
The proposed wholly owned subsidiary will focus and pursue IOCL’s low carbon and green energy business to meet the operational requirements of the net zero target and beyond. The formation of subsidiary is subject to approval of NITI Aayog, and Department of Investment and Public Asset Management (DIPAM).