Oil PSUs implementing projects worth Rs 3.57 lakh cr for enhancing energy accessibility

• The projects are spread across refinery, E&P, marketing infrastructure, pipelines, City Gas Distribution network and other segments of the oil and gas value chain

• The ministry said that out of the Rs 3.57 trillion being spent on 859 projects, Rs 60,000 crore will be invested during the current financial year

New Delhi: A total of 859 projects worth Rs 3.57 lakh crore across the hydrocarbon chain are currently being implemented by oil PSUs for enhancing energy accessibility, the Ministry of Petroleum and Natural Gas said on Monday. "As on 1st July, 2020 work on 859 projects worth approx. ₹ 3,57,000 crore involving in refinery, E&P, marketing infrastructure, pipelines, City Gas Distribution network and in the entire value chain of oil & gas is going on in full swing," the ministry said in a tweet.

Rs 60,000 crore to be spent by oil PSUs in this fiscal

After a review meeting between Petroleum Minister Dharmendra Pradhan and oil PSUs, the ministry said that out of the Rs 3.57 trillion being spent on 859 projects, Rs 60,000 crore will be invested during the current financial year. For the period between April 20, when lockdown restrictions were eased, and June 30, oil PSUs generated employment of more than 48.96 lakh man-days during the execution of oil and gas projects. Rs 1,395 crore has been disbursed to workers as payout during this period, the ministry said.

A total of more than 9.74 crore man-days of employment are expected to be generated towards the completion of these projects, out of which more than 3.5 crore man-days of employment is to be generated in FY 2020-21 itself. The ministry, however, did not provide a timeline for the investment of Rs 3.57 lakh crore. 

"These oil & gas projects will further enhance energy accessibility, create new employment opportunities, and give stimulus to economic growth," it said. Pradhan "advised the PSUs to be more 'Vocal for Local' to contribute to #AatmaNirbharBharatAbhiyan & strengthen #MakeInIndia," the ministry added.

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