Corp (IOC) to defer some of its projects, officials said.
IOC is working on plans to install delayed coker units at its refineries in Haldia and Mathura and is also planning a petrochemicals plant at Haldia.
Company insiders said that they could not rule out that those plans may have to be delayed given the worsening credit crisis.
However, they insist that IOC’s refining and petrochemicals projects at Paradip and Panipat would proceed as planned as the company had already secured the necessary funding.
IOC is India’s largest state-owned downstream company with 10 refineries.