homemarket Newscommodities NewsOil Ministry opposes monetising core assets as suggested by NITI Aayog
Oil Ministry opposes monetising core assets as suggested by NITI Aayog
The Ministry of Petroleum and natural gas (MoPNG) has opposed the idea of core asset monetisation of Oil Marketing Companies (OMC) and GAIL, identified by NITI Aayog. CNBC-TV18 learns from sources that the MoPNG has instead identified non-core assets for monetisation worth Rs 17,500 crore and has told the think tank that it is not practical to monetise core assets that are integral to OMCs and GAIL for operations.
The Ministry of Petroleum and natural gas (MoPNG) has opposed the idea of core asset monetisation of Oil Marketing Companies (OMC) and GAIL, identified by NITI Aayog. CNBC-TV18 learns from sources that the MoPNG has instead identified non-core assets for monetisation worth Rs 17,500 crore and has told the think tank that it is not practical to monetise core assets that are integral to OMCs and GAIL for operations.
The Finance Minister announced a national monetisation pipeline in February this year, NITI Aayog was given the task to identify assets across sectors. Some of the sectors announced include assets from roads, airports, power grids, oil & gas pipelines, warehousing, Sports stadiums.
MoPNG has identified non-core assets worth Rs 17,500 crore which includes assets from IOC, GAIL & HPCL. Some of the assets include 2 hydrogen-generating units in Gujarat and some ESG assets like effluent treatment plants, sulphur recovery units, water treatments plants etc from IOC, worth about Rs 10,000 crore.
The Dhabhol-Bengaluru pipeline, Dahej-Uran-Panvel-Dabhol pipeline worth Rs 5,000 crore from GAIL and HPCL’s product pipeline from Mangalore-Hassan worth Rs 2,500 crore and more assets are being identified.
The government is looking to monetise operating infrastructure assets, to finance new infrastructure development.
(Edited by : Abhishek Jha)
First Published: Jun 23, 2021 12:55 PM IST
Check out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!
Punjab Lok Sabha elections: Complete list of Congress candidates
May 18, 2024 4:08 PM
Punjab Lok Sabha elections: Check full list of AAP candidates and constituencies
May 18, 2024 12:59 PM
PM Modi, Rahul Gandhi election rallies in Delhi today: Here are the routes to avoid
May 18, 2024 11:28 AM