New Delhi, July 09: State-run oil firms, including Oil and Natural Gas Corp (ONGC) and Indian Oil Corp (IOC), will invest Rs 57,475 crore during current fiscal, Minister of State for Petroleum and Natural Gas Jitin Prasada said today.
In a written reply to a question in Lok Sabha, Prasada said ONGC will invest Rs 20,867.58 crore in 2009-10 fiscal, while IOC has planned expenditure of Rs 11,561 crore.
ONGC Videsh Ltd, the overseas investment arm of the state explorer, would invest an additional Rs 9,365.06 crore this year.
Gas utility Gail has planned capital expenditure of Rs 5,558 crore mostly in expanding its natural gas pipeline network.
Refiners Bharat Petroleum Corp Ltd (BPCL) and Hindustan Petroleum Corp Ltd (HPCL) have budgeted Rs 3,348.70 crore and Rs 1,390 crore respectively. Oil India Ltd, the nation’s second biggest state-run explorer, has planned an investment of Rs 2,276.31 crore.
–PTI