GAIL Plans To Spend Rs 6,000 Crore By FY19 End
State-owned gas utility GAIL India plans a capital expenditure of Rs 6,000 crore by the end of the financial year 2018-19.
This investment will be used to construct an additional 2,500 kilometres of gas pipelines by 2020, GAIL's Director-Projects Ashutosh Karnatak told reporters on Wednesday at the sidelines of an event to announce Oil and Gas HSE Conclave.
This will include laying pipelines in east and south India. Of the planned 2500 km, the 380-km Kochi-Mangalore pipeline is already under execution, he added.
Among other ambitious projects in this sector, GAIL, Hindustran Petroleum Corp, and Oil & Natural Gas Corp together plan to invest Rs 1.18 lakh crore on oil and gas exploration and a new petrochemical complex in Andhra Pradesh.
International Energy Agency expects natural gas demand in India will grow at 6 percent per year, on an average, to around 80 billion cubic metres by 2022. The government is targeting reducing oil imports by 10 percent by 2022.
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