SL to purchase fuel from IOC through $200Mn Indian short-term loan

Cabinet approval has been granted to purchase diesel and petrol from the Indian Oil Corporation Ltd under the USD 200 million short-term loan facility provided by the Export-Import Bank of India. 

Bids have been invited for four procurements to purchase diesel and petrol and the cabinet of ministers approved a proposal presented by the Power Minister to award the contract to the Indian Oil Corporation Ltd upon the recommendation of Cabinet Appointed Special Standing Procurement Committee.