Petronet LNG Ltd, India’s biggest gas importer, will invest ₹40,000 crore in the next five years for expanding import infrastructure as well as foraying into new business to boost profitability to ₹10,000 crore.
Petronet, which operates two liquefied natural gas (LNG) import facilities at Dahej in Gujarat and Kochi in Kerala, is looking to foray into the petrochemicals business, according to the firm’s latest annual report.
The company has formulated a ‘1-5-10-40’ strategy for exponential growth and diversification. “The company aims at achieving an annual turnover of ₹1 lakh crore over next five years and annual profit after tax of ₹10,000 crore with investments of ₹40,000 crore,” it said.
