New Delhi, July 26: State-run refiner Indian Oil Corporation (IOC) will export 30,000 tonnes of diesel and 10,000 tonnes of jet fuel, worth 100 million dollars, to Sri Lanka this year. IOC inked the 100 million dollar term contract with Sri Lanka's state-owned Ceylon Petroleum Corporation (Ceypetco) in Colombo on Thursday, a company statement said here.
IOC would supply 40,000 tonnes of products annually on C&F, Colombo (cost and freight) basis over a one-year period, commencing September 2002.

"The value of supplies under the term contract would be 100 million dollar at current prices," the statement said.
"This is the largest order IOC has bagged in recent times, and is in tune with our corporate vision of becoming a transnational energy major," IOC Chairman M S Ramachandran said adding the initiative would expand the company market base and convert surplus products into more wealth. Bureau Report