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Oil PSUs  to  monetize pipelines  via  InvITs; may offload upto 49% stake in projects

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State-run Indian Oil Corp. Ltd (IOCL), Hindustan Petroleum Corp. Ltd (HPCL) and GAIL (India) Ltd are working on infrastructure investment trusts (InvITs) to monetize stakes in their pipeline networks. The three companies have prepared blueprints to float InvITs that will house pipelines totalling 5,000 km. They may offload 26-49% of their stakes in these projects. The companies would retain the operations and control of the pipelines.