IOC to sell non-core assets to raise Rs 10K Cr

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New Delhi: India ‘s largest public sector refiner Indian Oil Corporation (IOC) has mooted a proposal to sell its stakes in hydrogen producing units and sulphur recovery facilities to the private sector to raise an estimated Rs 10,000 crore.

The plan is in line with government’s asset monetisation programme where it wants PSUs to identify non-core assets that could be sold to raise resources for next wave of investments.

Reports said IOC had proposed monetising some of its hydrogen producing units in lieu of its product pipelines which the government wants the company to monetise.

Government expects Indian Oil, GAIL and Hindustan Petroleum to raise Rs 17,000 crore by selling stakes in their pipelines through the infrastructure investment trust route in the next financial year.

Oil Industry sources said that the PSUs proposal is being examined and a decision would be taken soon.

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