Corporate
IOCL to double investments on R&D
State-run Indian Oil Corporation (IOCL) has proposed to double its investments on its Research and Development in order to develop newer technologies, a top company official said today. - Surinder Sud: Seeding R&D">Surinder Sud: Seeding R&D - MindTree joins Continua Health Alliance - "India to be a test-bed for global roll-outs" - Bambino has registered cent per cent growth: Das - 5 more auto testing, R&D centres by Sep 2011 - Get the basics right The company which has been spending Rs 100 crore a year on its R&D was hoping to double it this year to focus more on new technologies, IOCL Chairman S Behuria told reporters here today. "We are developing our own indegenous technology. We are spending Rs 100 crore on the R&D focusing in technologies. Now we are taking it to Rs 200 crore", he said. He said the purpose of the doubling on R&D was to improve the life cycle of "lubricants" which would subsequently improve the performance of vehicles. "Starting with lubricants, we will go to refining technologies. We also have renewable energies in the pipeline", he said.To a query on modernisation of refineries, he said that it was a "continuous" process. "Some of the refineries (in the country) are 100 years old, he said.Quick Loans commented:
Having new benefit of new technology will definitely make their business more profitable as well.As it will also help them grow at the same time.
21.11.2011