Hindustan Petroleum Corporation plans to invest Rs 61,000 crore in five years ending 2022 to scale up its refining and marketing operations.
The state-run oil marketing company plans to invest Rs 7,110 crore this fiscal against Rs 5,860 crore in FY17, its chairman Mukesh Surana has said.
“With huge potential of growth amidst rising energy demand in country and due to low per capita consumption base, oil and gas sector is poised for an exciting and challenging future,” Surana said. “We are adapting to this changing energy mix and are well positioned to create value for all the stakeholders in the future business environment with a capex of over Rs 61,000 crore over five years’ period,” he said late Friday.
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