NEW DELHI: Indian Oil Corporation (IOC), the nation's largest oil firm, today said it will invest Rs 5,300 crore in setting up an LPG import facility at Paradip in Odisha and laying pipelines.

IOC board in its meeting on January 29 approved laying of a 1,150 km oil pipeline from Paradip to Hyderabad at a cost of Rs 2,789 crore.