(TNIE)
Gas major GAIL India will invest Rs 45,000 crore into the expansion of national gas grid and city gas distribution networks over the next five years, said the state-run company’s chairman Ashutosh Karnatak on Tuesday.
Speaking to shareholders at the company’s annual general meeting, Karnatak said that the company is currently implementing several major projects that will expand its national gas pipeline network by over 5,700 kilometres cumulatively. “Investments worth over Rs 45,000 crore are envisaged in the next few years across major cross-country pipeline projects and other crucial pipelines connecting supply and demand centres envisaged under the National Gas Grid,” said Karnatak.
Of the total Rs 45,000 crore capital expenditure planned over the next five years, Rs 32,000 crore will go into projects expanding GAIL’s gas pipeline network, while another Rs 12,000 crore will be invested in expanding city gas distribution networks, which will deliver compressed natural gas (CNG) intended for CNG automobiles and piped natural gas to households. Karnatak also said that the company will set aside some capex to expand its petrochemical factories.
