GUWAHATI: Indian Oil Corporation will invest Rs 3,400 crore in Assam over the next five years to expand its operations by setting up new units as well as upgrading the existing ones, a senior IOC official said today.The company will sign a Memorandum of Understanding (MoU) with the Assam Government to this effect at the two-day 'Advantage Assam - Global Investors Summit 2018', beginning here today, the official said. "We are signing an MoU with the state government that will empower us to invest Rs 3,400 crore in Assam over the next five years.