Indian Oil Corporation (IOC) Lubricant Oil Factory which was established in Tadepalli of Guntur district had announced a Lockout and is shifting its base to Chennai. The unit was established in 1994 during NT Rama Rao’s regime and is aimed at the supply to both the Telugu States.
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There are 30 employees on a Permanent Basis and 200 Contract Employees. There are many others making a living on transportation. The company has decided to shift the unit to Chennai where the main unit of the company is in operation.
Since GST is effective from July 1st, there will be uniform Tax Structure across the country, the company sees no benefit in operating from Andhra Pradesh. The plan is to scale up the Production in Chennai unit so that Operational Costs can be saved.
IOC makes Lubricant Oil on the Brand name – Servo which is in high demand in the market. Tadepalli Unit has stopped production from the last 15 days. The then government has allotted 10 acres of land to the company in 1994 in Tadepalli.
