Board of Indian Oil approves incorporation of subsidiary focused on low carbon and green energy
Capital MarketThe Board of Indian Oil Corporation at its meeting held on 14 March 2023 has approved the formation of a Wholly Owned Subsidiary (WoS) in India, subject to approval of NITI Aayog, DIPAM etc. to operate in the domain of low carbon, new, clean and green energy businesses.
The proposed WoS will focus and pursue Indian Oil's low carbon and green energy business to meet the operational requirements of the net zero target and beyond.
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