GAIL plans to add 1,800 kilometres gas pipeline

Posted By: Religare
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GAIL plans to add 1,800 kilometres gas pipeline
GAIL (India) Limited, India's flagship Natural Gas company intends to add 1,800 kilometres gas pipeline in FY 2011-12, for which the company has planned its capital expenditure of Rs. 76.92 billion.

According to LR Gupta, General Manager, GAIL, the company will borrow Rs. 33.25 billion in same fiscal year to fulfill its capital expenditure.

Apart from its expansion in pipeline structure, Prabhat Singh, head of marketing, said that the company is willing to buy one LNG cargo each in June and July.

Commenting on this he said, "In a few days, we will finalize the cargo for June deliveries depending on the price we get. We plan to buy one for July as well. After that, we will see the monsoon season, as during the monsoon, gas demand from power plant is less."

Read more about: gail india, oil and gas, bse, nse
Story first published: Tuesday, May 24, 2011, 13:39 [IST]
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