Indian Oil Corp. submits bid for Myanmar business

Indian Oil Corporation (IOC) has submitted its bid to enter Myanmar’s fuel marketing and retail segment.

โ€œWe have submitted a bid to start retail outlets and also to set up LPG plants in Myanmar,โ€ said Anish Aggarwal, director (pipelines) of IOC, according to Business Standard.

Last year, Myanma Petroleum Products Enterprise had invited private companies to form a joint venture for importing, storage, distribution and sale of all petroleum products.

India’s state-owned oil companyย has marketing subsidiaries in Sri Lanka, Mauritius and West Asia.