The news source noted IndianOil’s chairman, S Behuria, as saying that the company will only be able to sustain losses for another year before its planned project investments get impacted.
Mr Behuria added that IndianOil’s borrowings stood at INR340 billion as of March 31, 2008. He noted that IndianOil plans to invest INR75 billion on refinery and pipeline projects in 2008-09.
