India’s largest oil marketing company, state-run Indian Oil Corp NSE 0.85 % (IOCL NSE 0.85 %), is looking to sell seven of its hydrogen generation units at its refineries, two people aware of the development said. The sale is part of the asset monetisation plan of the government, the people said.
“IOCL is planning to monetise two of its hydrogen generation units this year. To begin with, it will sell 100% stake in the 70,000 tonnes per annum hydrogen generating unit at the Gujarat refinery,” said an official.
“IOCL is also working on a plan to monetise five more plants next year. The company is trying to leverage the operational efficiency by handing it over to the licensor of the unit,” said another official. IOCL did not respond to an email seeking comment.
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