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India Plans To Spend $10 Billion On Oil Tanker Fleet
Mint Kolkata
|May 21, 2025
India plans to spend ₹85,000 crore ($10 billion) to purchase 112 crude carriers through 2040, people familiar with the matter said, as the world's third-biggest importer of oil seeks to have its own fleet to secure supplies.
State-owned oil companies currently operate an aging fleet that's mostly on-charter from global companies and the shipping and petroleum ministries want to change that, said the people, who asked not to be identified citing rules.
The plan's first phase involves purchasing 79 ships, of which 30 of them would be medium-range vessels, they said.
This story is from the May 21, 2025 edition of Mint Kolkata.
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