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February 11, 2022

India’s Petronet LNG unveils $5.3bn investment plan for the next five years

The firm intends to enter the petrochemical business by investing $166.4m to build a propane dehydrogenation plant.

India’s oil and gas company Petronet LNG has unveiled plans to invest $5.32bn (Rs400bn) in several energy projects, including overseas LNG facilities and gas fields, reported the Press Trust of India (PTI).

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Petronet LNG CEO A K Singh said that the investment plan will be implemented over the next four to five years.

Of the total amount, the LNG import terminal operator will allocate $166.4m (Rs12.5bn) to build a propane dehydrogenation plant, as it seeks to enter the petrochemical business.

The plant will be equipped to convert imported feedstock into propylene.

Petronet will allocate $21.3m (Rs1.6bn) to construct a floating LNG import facility at Gopalpur, in the Indian state of Odisha.

Singh told PTI: “We always evaluate good opportunities for overseas investment. If it is beneficial for the country, and if we find it a better option, definitely we will go for it.”

Petronet operates the LNG terminal in Kochi, Kerala, and has also set aside $226m (Rs17bn) to expand the LNG import capacity in the country. 

The firm also plans to invest $79.9m (Rs6bn) to expand the capacity of the Dahej LNG import terminal, in the Indian state of Gujarat, from the current 17.5Mtpa to 22.5Mtpa.

The $226m investment also includes $15.9m (Rs1.25bn) for the construction of storage tanks and bays for truck loading of LNG.

Petronet will also build a floating storage and regasification unit (FSRU)-based LNG import facility, off the Gopalpur port. It will have a 4Mtpa capacity.

At a later stage, the new FSRU-based LNG facility will be converted into a land-based terminal, with a capacity of more than five million tonnes.

In September 2021, Petronet chose L&T Hydrocarbon Engineering, a subsidiary of Larsen & Toubro (L&T), for Phase IIIB of the Dahej expansion project, in Gujarat.

Petronet LNG (PLL) is a joint venture company promoted by Oil & Natural Gas (ONGC), Indian Oil (IOCL), GAIL (India), and Bharat Petroleum (BPCL).

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How attractive are current investment opportunities in Europe?

Europe has been identified as one of the most favorable regions for investors, seeing high investment activity in the past year. Most of these investments have been through Debt Offering, valued at close to $700 billion. The region has provided attractive investments in a diverse set of companies. Companies who tend to major themes such Digital Media, Cloud, Artificial Intelligence, E-commerce, and Big Data are recording the highest number of deals, with Digital Media recording close to 2,000 deals. However, GlobalData’s whitepaper offers a full view of the market, analyzing less successful or attractive points of investment as well, examining statistics on Equity Offering investments and PE/VC deals. Understand how government agencies for economies around the world use GlobalData Explorer to:  
  • Track the M&A and Capital Raising volumes into their target market
  • Identify the top sectors in the target market attracting the investments
  • For any investment segment, identify the top Investors inside and outside the target economy that are already investing in the Segment
  • Assess and showcase the growth potential for various Industries in the target economy
Don’t miss out on key market insights that can help optimize your next investment – read the report now.
by GlobalData
Enter your details here to receive your free Report.

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