MOSCOW, October 20. /TASS/. Rosneft has launched a large-scale petrochemical production development program in India with investments about $750 mln at the currently implemented stage, Chief Executive Officer of the Russian oil producer Igor Sechin said at the online meeting of Indian Prime Minister Narendra Modi with chief executives of global oil and gas majors.
"We are confident in the long-term potential of the Indian market and therefore purchased a stake in Nayara Energy in 2017. This transaction remains the largest foreign direct investment in the oil and gas sector of your country. We are expanding our investments in the Indian economy, having increased the retail sites chain to 6,300 sites. The large-scale program of petrochemical production development was launched with investments about $750 mln at the recently implemented stage," Sechin said, cited in the company’s press release.
Leading oil and gas companies of India, such as ONGC, Indian Oil, Oil India, and Bharat Petroresources, are proactively investing in the largest Russian projects of Rosneft, the top manager added.