India: Shell to invest in downstream business
Royal Dutch Shell will be making further investments in India after merging with BG Group last February.
Shell, one of the few international companies present in India´s downstream fuel segments, has already invested $1 billion in the Asian country, reported LiveMint.
“We have a long history in India and have consistently looked to expand our investments. I can assure that our overall approach towards investment in India remains positive,” told the mentioned journal a Shell spokesperson.
Last week Shell announced that Dr Yasmine Hilton would be stepping down as chairman of Shell Companies in India after a 37-year career with the energy giant. Nitin Presad, current country head for Shell Lubricants will succeed Hilton from October 1.
Shell is involved in a variety of business in India including the control of the country´s second largest compressed natural gas (CNG) retailer Mahanagar Gas Ltd (MGL). In terms of a retail fueling network, Shell has a marketing license to set up a network of up to 2,000 gas stations in India; although currently it only has about 77 operational sites.
