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GAIL eyes Rs500 bln revenue by 2011

GAIL eyes Rs500 bln revenue by 2011
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First Published: Mon, Sep 03 2007. 01 40 PM IST
Updated: Mon, Sep 03 2007. 01 40 PM IST
New Delhi: GAIL (India) Ltd expects revenue of around 500 billion rupees by 2011 by strengthening its current business and pursuing new exploration opportunities, chairman and managing director U.D. Choubey told a shareholders’ meeting on 3 September.
“GAIL is aggressively pursuing new gas sourcing options, both from new domestic sources as well as through international sources,” he said.
Choubey said the company would pursue margin-enhancing businesses such as petrochemicals and city gas projects.
“We are making active efforts towards eatablishing two gas-based petrochemicals plants outside India,” he said.
He also said the company had recently approached the government with firm plans to pursue city gas projects in 230 cities across the country.
The company is expanding the capacity of its petrochemical plant in Pata, in the northern state of Uttar Pradesh, to 410,000 tonnes from 310,000 tonnes.
It would also invest 200 billion rupees to nearly double its pipeline network to 12,000 km by 2011, he said.
“This will increase your company’s natural gas transmission capacity to 300 million standard cubic metres per day (mmscd) and almost double its trunk pipeline network,” he said.
GAIL owns a 6,400-km pipeline infrastructure with a capacity of 148 mmscd. It reported revenue of 160.47 billion rupees in 2006/07.
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First Published: Mon, Sep 03 2007. 01 40 PM IST