Petronet plans Rs 40,000 Crore investment to triple profits by 2028

 https://youtube.com/shorts/vLQ1C61Inb8?si=qK84EQPvASJ_tZm-


  • Petronet LNG  ambitious goal to triple its net profit by 2028.
  • For the entire 2023–24 fiscal year (April 2023 to March 2024), Petronet reported its highest-ever net profit of ₹3,536 crore on the back of a 22% growth in volume throughput.
  • With a strategy termed “1-5-10-40”, Petronet aims to increase turnover to Rs 1 lakh crore within 5 years, with a net profit target of Rs 10,000 crore. This strategy, initiated two years ago, outlines the company’s vision until 2027-28.
  • Petronet LNG Ltd, known for running the biggest liquefied natural gas (LNG) import terminal globally, aims to boost its capabilities by investing Rs 40,000 crore. This investment will not only expand its import capacity but also venture into the petrochemicals sector.
  • CEO Singh also highlighted plans to ship LNG in containers to Sri Lanka within the next 18 months, alongside setting up an import terminal at Colombo port within five years.
  • Petronet intends to enhance the capacity of the Dahej LNG import terminal to 22.5 million tonnes and invest in additional storage and truck loading facilities. The company is also eyeing a land-based LNG terminal at Gopalpur port, deviating from its initial plan of a floating storage and regasification facility. Despite earlier considerations, Petronet recognizes the rising demand for gas in the eastern region and is determined to establish a foothold in Gopalpur, Odisha

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