Business Daily from THE HINDU group of publications
Wednesday, Oct 31, 2007
ePaper | Mobile/PDA Version
Business Daily from THE HINDU group of publications Wednesday, Oct 31, 2007 ePaper | Mobile/PDA Version |
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Industry & Economy
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Petroleum Web Extras - Industry Associations ‘Petro sector attracts Rs 53,300-cr investment plans’ Our Bureau New Delhi, Oct. 30 Investment announcements totalled Rs 1,75,629 crore in the months of August and September, bulk of which will go to petroleum sector, according to a study by Assocham. The study, for the period of August and September, found that the petroleum sector attracted maximum number of investment announcements totalling Rs 53,300 crore with Indian Oil Corporation (IOC) and Reliance Group planning to invest Rs 43,500 crore and Rs 8,000 crore respectively. Orissa attracted investment plans of Rs 55,800 crore, especially in steel and oil refinery capacity, reflecting the high investment spree by the companies in the core infrastructure sector.
“The total investment intentions tracked in the AEP Study reflects encouraging signs of pick up in investments and acceleration in the overall growth rate,” said Mr Venugopal Dhoot, President, Assocham.
The study tracked investment announcements made by 70 companies in the private sector with investments plans ranging between 2 to 10 years across various sectors such as petroleum, steel, hospitality, real estate. With major public-private partnership projects in line, West Bengal is ranked second where companies made investment announcements worth Rs 31,200 crore in last two months. The major investors in the State would be Jai Balaji Industries, a Kolkata-based steel company that announced capacity expenditure of Rs 16,000 crore followed by IOC (Rs 14,500 crore) and DLF (Rs 700 crore). More Stories on : Petroleum | Industry Associations
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