Centre may consider equity infusion in three OMCs

The government will consider a Rs 300 billion equity infusion and a possible stake increase in the three oil marketing companies (OMCs) – Indian Oil Corporation, Bharat Petroleum Corporation Limited (BPCL), and Hindustan Petroleum Corporation Limited (HPCL) once they submit their capital investment plans. Primarily, the projects will focus on emission reduction and refinery modernisation, among others. The instruments through which this equity infusion could take place have not been finalised.