ONGC, on Thursday, said it will not slow down investing in new projects despite the global economic slowdown.
“Despite global slowdown, we shall not slow down. ONGC board has approved, in past six months, investments in excess of Rs 25,000 crore,” ONGC Chairman and Managing Director R S Sharma said in a CII conference in New Delhi.
The company is going ahead with the setting up of the country’s largest petro chemical complex in Gujarat, expanding Mangalore refinery and setting up a power plant in Tripura.
“These projects will come up in three to four years and I do not believe the downturn will last that long,” Sharma added.