Financial Daily from THE HINDU group of publications
Monday, Dec 12, 2005
Financial Daily from THE HINDU group of publications Monday, Dec 12, 2005 |
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Petroleum Corporate - Outlook ONGC chalks out Rs 1 lakh-crore investment plan Pratim Ranjan Bose
Kolkata , Dec. 11 ONGC has drawn up a mammoth Rs 1,00,000-crore investment plan in India and abroad in the next five years. This is a marked difference from the company's earlier practice of finalising annual capital expenditure plans. The decision has triggered ONGC's change of stance on cross-holdings. While details of the investment plan are not known, sources said the company had divided the entire investment plan into short (annual), medium (three years) and long-term (five years) sectors. "The total investments planned by ONGC, its subsidiaries, joint ventures and special purpose vehicles will be close to Rs 1,00,000 crore," a company official said. "While borrowings hold the key to such investments, we will like to part-finance by unlocking our investments in IOC and GAIL," the official added.
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