Oil sector PSUs to set up InvITs for asset monetisation

After power, the country’s oil sector PSUs would now float an infrastructure investment trust (InvIT) as part of the asset monetisation exercise announced by the government and mobilise resources for fresh capital investment.

As part of the exercise, gas transportation utility Gail NSE -3.01 % India is expected to set up the gust InvIT in the oil sector in the next financial year. The proposed InvIT will house some of the gas pipeline infrastructure created by the company.