Petronet LNG Ltd, operator of liquefied natural gas (LNG) import terminals, is set to embark on significant investments totalling ₹40,000 crore. The plan is to expand import capacity and venture into the petrochemical sector, with a target of tripling net profit by 2028.
One of its key initiatives involves entering the petrochemical arena through a ₹12,685 crore investment in a propane dehydrogenation plant. The facility will convert imported feedstock into propylene. Additionally, Petronet plans to establish an LNG import facility at Gopalpur in Odisha, with an investment of ₹2,300 crore.
As reported by ThePrint, the company is exploring overseas investments, including a floating LNG terminal project in Colombo, Sri Lanka. Petronet currently boasts a turnover ranging from ₹55,000-₹60,000 crore and has an annual net profit of ₹3,200 crore.
Operating a flagship import terminal with a capacity of 17.5 million tons per year at Dahej in Gujarat, alongside another 5 million tons facility in Kochi, Kerala, Petronet is eyeing the development of a four million ton-a-year LNG import terminal at Gopalpur port.
