IOC to monetise pipeline assets, says many investors interested
State-owned Indian Oil Corporation (IOC) is likely to sell stakes in one or two of its vast network of crude oil and petroleum product pipelines in the country under the asset-monetization plan, but won’t give up control, its Director (Finance) Sandeep Kumar Gupta said Tuesday.
“InvIT could be one model which we may look at but we won’t sell 100 per cent. We will remain the operator,” he said on a conference call with analysts and investors.
Finance Minister Nirmala Sitharaman in her Budget for fiscal year beginning April 1, announced monetisation of oil and gas pipeline assets of IOC, gas utility GAIL (India) Ltd and Hindustan Petroleum Corporation Ltd (HPCL).
