GAIL set to kick off asset monetisation in oil sector by end of 2021-22

InvIT to be floated by the end of next fiscal year

The first oil-sector infrastructure investment trust (InvIT) is expected to be floated by GAIL (India) by the end of 2021-22. According to a top petroleum ministry official, Indian Oil Corporation (IOCL), Hindustan Petroleum Corporation (HPCL), and GAIL (India) will be going for three separate InvITs as part of the central government’s asset monetisation plan.

“GAIL (India) will be the first to float the InvIT. In all, Rs 15,000-20,000 crore is expected to be raked in via this route. The money will be utilised by the companies for capital expenditure,” said the official. This is expected to augur well for the companies