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Our Bureau

New Delhi, July 9 Public sector oil companies are expected to invest Rs 57,475.74 crore during the current fiscal.

This information was given by the Minister of State for Petroleum and Natural Gas, Mr Jitin Prasada, to the Lok Sabha on Thursday.

In a written reply to a question, Mr Prasada said, “The Planning Commission has approved an annual plan outlay of Rs 57,475.74 crore for public sector oil companies for 2009-10. The outlay would include an investment of Rs 38,731.98 crore for exploration and production projects, Rs 14,285.79 crore for refining and marketing projects, Rs 4,362.97 crore for petrochemicals, and Rs 95 crore for engineering projects. ”

ONGC will invest Rs 20,867.58 crore in 2009-10, while Indian Oil Corporation has planned expenditure of Rs 11,561 crore.

ONGC Videsh Ltd, the overseas investment arm of ONGC, will invest Rs 9,365.06 crore during the current fiscal.

GAIL (India) will invest Rs 5,558 crore.

Bharat Petroleum Corporation Ltd and Hindustan Petroleum Corporation Ltd have planned investments of Rs 3,348.70 crore and Rs 1,390 crore, respectively.

Oil India Ltd has planned an investment of Rs 2,276.31 crore.

Mangalore Refinery and Petrochemicals Ltd would invest Rs 2,048 crore in 2009-10, he said.

More Stories on : Petroleum | PSU

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