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Indian Oil Corp will make an investment of Rs 1.5 lakh crore, including Rs 50,000 crore for expanding its existing brownfield refineries, in the next five to seven years, a top company official said today.

The company has planned expansion of 10 refineries, infrastructure and other facilities, considering the future demand for energy, IOCL Chairman B Ashok told while addressing a press conference here. (Courtesy: Economic Times)