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Petronet LNG to invest Rs 400 billion to expand import infra
Petronet LNG will be investing Rs 400 billion over the next five years to expand import infrastructure and enter new markets in order to increase profitability to Rs 100 billion. According to the company's most recent annual report, Petronet, which operates two liquefied natural gas (LNG) import facilities in Dahej, Gujarat, and Kochi, Kerala, is looking to expand into the petrochemicals business.
For exponential growth and diversification, the company has devised a '1-5-10-40' strategy. With investments of Rs 400 billion, the company aims to achieve an annual turnover of Rs 1 trillion over the next five years and an annual profit after tax of Rs 100 billion.
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