India’s state-run refiner Indian Oil Corporation aims to sell two hydrogen units this year
State-run Indian Oil Corporation, the country’s top refiner, plans to sell hydrogen-producing units at its plants to private sector entities, its chairman S. M. Vaidya said on Tuesday.
In her annual budget for the 2021/22 fiscal year presented last month, Nirmala Sitharaman, India’s finance minister proposed the sale of some assets of state-run companies to mobilise funds.
To begin with IOC NSE -1.49 % plans to sell two hydrogen units of 72,500 tonnes per annum capacity each at its 276,000 barrels per day (bpd) Koyali refinery in western Gujarat state by the end of 2021, Vaidya told reporters on the sidelines of an industry event. “We are starting with the Gujarat refinery. Let’s see how it goes before we start the process for other refineries,” Vaidya said.
