Rs 4,000-cr war chest for buys | business | Hindustan Times
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Rs 4,000-cr war chest for buys

Oil India Ltd is eager to expand abroad, and has put aside over Rs 4,000 crore for acquiring a mid-sized oil producing company overseas. OIL has a cash balance of Rs 12,700 crore, most of which it plans to use in its current operations. HT reports.

business Updated: May 31, 2011 22:48 IST
HT Correspondent

Oil India Ltd is eager to expand abroad, and has put aside over Rs 4,000 crore for acquiring a mid-sized oil producing company overseas. OIL has a cash balance of Rs 12,700 crore, most of which it plans to use in its current operations.

"For inorganic growth, we can go up to Rs 4,000-5,000 crore (spending). Also we can borrow if needed," OIL director (finance) TK Ananth Kumar told reporters here.