 "oil")
Energy major IndianOil Corporation, is planning to invest as much as Rs 16,641 crore in Tamil Nadu. The PSU company signed a memorandum of understanding to this effect on Wednesday, with the state government at the Global Investors Meet in Chennai.
R Sitharthan, Executive Director (I/c) and State Head for IndianOil (Tamil Nadu & Puducherry) signed an MoU with Tamil Nadu for an investment of Rs 7,941 crore over the next five years.
The commitment is expected to generate direct employment opportunities for 9,200 people and indirect employment for around 10,600.
IndianOil would also invest Rs 5,100 crore on its retail outlet
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