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Oil India’s arm to invest Rs 6,555 crore on petrochemical project

17 Mar 2022 Evaluate

Oil India has received approval from its board for investment by its subsidiary Company - Numaligarh Refinery for implementation of Petrochemical project (i.e polypropylene Unit (PPU) & its associated facilities at Numaligarh at an estimated capital cost of Rs. 6,555 crore.

The company has also received approval for formation of a Joint Venture Company between Assam Gas Company, (AGCL) and Oil India for the three geographical Areas offered by Petroleum and Natural Gas Regulatory Board (PNGRB) under 11th Round of City Gas Distribution (CGD) bidding.

Oil India, a Navratna Company, is Asia's oldest and biggest pioneer oil exploration and Production Company.

Peers
Company Name CMP
ONGC 222.05
Oil India 451.95
Jindal Drilling&Inds 599.65
Deep Industries 800.05
Asian Energy Service 468.05
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