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.

“We have submitted a bid to start retail outlets and also to set up LPG plants in Myanmar,” 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 company has marketing subsidiaries in Sri Lanka, Mauritius and West Asia.