Haryana approves IndianOil R&D unit at Faridabad

The Haryana government has approved the proposal of Indian Oil Corporation Limited (IOCL) for setting up research and development project at Faridabad.

The proposal was approved by state-owned Haryana State Industrial and Infrastructure Development Corporation (HSIIDC), state Industries Minister Captain Abhimanyu said here on Wednesday.

The Minister said Rs 300 crore will be invested in next two years and about Rs 900 crore will be invested by IOCL in this project by 2019.

He informed that the decision was taken by the Plot Allotment Committee constituted by the state government under the chairmanship of Devender Singh, Principal Secretary, Industries, Haryana for the allotment of projects having an investment of Rs 30 crore and above.