Petronet LNG Ltd, the operator of the world’s largest liquefied natural gas (LNG) import terminal, plans to invest Rs 40,000 crore in expanding import capacity and entering the petrochemical business. The company aims to treble its net profit by 2028. As part of its strategy, Petronet is investing in a propane dehydrogenation plant and setting up an LNG import facility in Odisha. The company is also exploring overseas investments, including a floating LNG terminal in Colombo, Sri Lanka. Petronet extended its LNG import deal with Qatar and aims to increase turnover to Rs 1 lakh crore in 5 years with a net profit of Rs 10,000 crore.
Petronet LNG to Invest Rs 40,000 Crore in Capacity Expansion and Petrochemicals
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