Oil PSUs to invest Rs 74,800 cr in capex in FY12

State-owned oil firms like Oil and Natural Gas Corporation (ONGC) will invest over Rs 74,800 crore in capital expenditure in 2011-12 fiscal, most of it from internal resources.

ONGC will invest Rs 30,040.02 crore as against Rs 29,203.80 crore in the current year. All of this would be from the company's internal resources, according to the Budget 2011-12 documents.

Its overseas arm ONGC Videsh (OVL) would invest another Rs 8,686.93 crore in capital expenditure. Of this, OVL plans to borrow Rs 3,448.25 crore from its parent firm.

Indian Oil Corporation, the nation's largest refining and oil marketing company, would invest Rs 14,500 crore, of which it would raise Rs 2,000 crore via bonds or debentures and Rs 6,200 crore more through other market borrowings.

Overall, the capital investment in 2011-12 by oil PSUs would be Rs 74,811.82 crore as opposed to Rs 70,050.84 crore in the current fiscal.

Gas utility GAIL India would invest Rs 5,150 crore of which Rs 1,500 crore each would be raised through bonds and external commercial borrowing and another Rs 1,000 crore in bank loans.

Hindustan Petroleum Corporation (HPCL) would invest Rs 4,003 crore, half of which or Rs 2,060 crore would come from bank loans and another Rs 900 crore from external commercial borrowings.

Bharat Petroleum Corporation (BPCL) would invest Rs 2,865.15 crore, almost the same as current year. Mangalore Refinery and Petrochemcial (MRPL), a subsidiary of ONGC, would invest Rs 5,164 crore, of which Rs 4,000 crore would come from loans.