IndianOil, HP, BP to spend Rs 20k crore on LPG biz

State-run oil majors- Indian Oil Corp. Ltd (IOCL), Bharat Petroleum Corp. Ltd (BPCL) and Hindustan Petroleum Corp. Ltd (HPCL)- are planning to invest Rs 20,000 crore by 2020 to meet rising demand for cooking gas.

The investments will go into setting up terminals to import liquified petroleum gas (LPG), laying pipelines, and building LPG bottling plants.

A Mint repot quoted an official as saying: “Together, three of us would be investing over Rs 20,000 crore over the next two-three years. We are jointly setting up an LPG pipeline which is going to cost us Rs 10,000 crore.”

“Our import terminals will cost us Rs5,000 crore and another Rs 5,000 crore would go in setting up and expanding LPG bottling plants,” he added.

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Govt gives nod to Twin Star Technologies' Rs 9,000 cr FDI proposal

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