News Release Details
India plans to export 90 mn tones of refined items
New Delhi 08-Oct-2007
India is expected to export 87-90 million tons of refined products by 2012, Petroleum Secretary M S Srinivasan said today. With the opening up of four new refineries, including one at Bhatinda with an investment of Rs 3,750 crore, production was expected to increase to 220 million tons by 2012 from 152 million tons at present Srinivasan told reporters here. Since the domestic requirement would not go up that fast, the country will export nearly 90 million tons by 2012. Srinivasan, who inaugurated a 17.6 MW windmill of Chennai Petroleum Corporation Ltd in nearby Dindigul district, said there was a lot of opportunity in the refinery sector, through which the country could earn foreign exchange. The sector had attracted eight billion dollars as FDI in exploration and production since 1999, he said, adding FDIs in this sector was expected to go up to 25-30 billion dollars in the next 10 years. The ministry has provided a more ambitious 2.6 lakh crore for the 11th Plan.
New Delhi 08-Oct-2007
India is expected to export 87-90 million tons of refined products by 2012, Petroleum Secretary M S Srinivasan said today. With the opening up of four new refineries, including one at Bhatinda with an investment of Rs 3,750 crore, production was expected to increase to 220 million tons by 2012 from 152 million tons at present Srinivasan told reporters here. Since the domestic requirement would not go up that fast, the country will export nearly 90 million tons by 2012. Srinivasan, who inaugurated a 17.6 MW windmill of Chennai Petroleum Corporation Ltd in nearby Dindigul district, said there was a lot of opportunity in the refinery sector, through which the country could earn foreign exchange. The sector had attracted eight billion dollars as FDI in exploration and production since 1999, he said, adding FDIs in this sector was expected to go up to 25-30 billion dollars in the next 10 years. The ministry has provided a more ambitious 2.6 lakh crore for the 11th Plan.