Search
      Channels
  News
  Home Loans
  Commercial Loans
  Insurance
  Credit Cards
  Calculators
  NRI Center
     Investment
  Mutual Funds
  Stock Research
  Market Tools
  Special Reports
  Fund Focus
  Company Focus
  Sector Focus
  Interviews
     Services
  Greetings
  Message Board
Partners
Home -> Finance -> Full Story
GAIL to invest Rs 18-20,000 crore in 5 yrs: Banerjee
Tuesday, March 25 2003 16:59 Hrs (IST)

Mumbai: GAIL Ltd (Gas Authority of India Limited) is to invest Rs 18,000-20,000 crore over the next five years to double its pipeline network to around 12,000 kms and Pata plant capacity to five lakh tonnes.

"Currently, we have 5,500 kms network and have identified another five pipelines as part of the national gas grid," GAIL chairman and managing director Proshanto Banerjee told reporters on the sidelines of the Asia Gas Buyers Summit in Mumbai on March 25.

"Work has begun on Dahej-Bijapur pipeline and is expected to be completed by early 2004, when the gas flow to consumers is likely to commence from Petronet's LNG terminal at Dahej," Banerjee said.

The other lines planned are Dahej-Uran-Dabhol, Uran-Kakinada, Kakinada-Kolkata and Kakinada-Chennai, he said.

On Pata plant, he said the capacity would be increased from the current 3,00,000 tonnes to 5,00,000 tonnes.

Referring to resources required to fund these projects, he said the money would be raised on the GAIL's balance sheet.

Presently the company was using its own resources and some amount also came from Asian Development Bank for infrastructure projects. Hence, this avenue would also be looked at, he added.

Petronet LNG is a joint venture promoted by Gail, ONGC, Indian Oil Corporation and Bharat Petroleum Corporation Ltd.

PTI



Sponsored Links

WQN    Call India for 23 c/m