Petronet to pump in RS40k cr by 2028

Betul (Goa): Petronet LNG Ltd, the operator of the world’s largest liquefied natural gas (LNG) import terminal, will invest Rs40,000 crore in expanding import capacity and petrochemicals with a target to treble net profit by 2028, its CEO AK Singh said.

Petronet is making a foray into the petrochemical business by investing Rs12,685 crore in a propane dehydrogenation plant that will convert imported feedstock into propylene, as well as setting up an LNG import facility at Gopalpur in Odisha at a cost of Rs2,300 crore, he told reporters on the sidelines of India Energy Week here.