GAIL India plans Capex of Rs 30,000 over next 3 years

25 Aug 2023 , 12:45 PM

Over the next three years, state-owned Gail India expects to invest Rs 30,000 crore in pipelines, petrochemical projects, and city gas distribution. The overall capital expenditure for FY23 by the company is Rs 10,000 crore.

‘The company is steadily expanding and building infrastructure facilities across the country. We are targeting a capex of Rs 30,000 crore over the next three years, primarily on pipelines, CGD projects, operational capex, ongoing petrochemical projects, equity contribution in group companies, and so on,’ GAIL CMD Sandeep Kumar Gupta said during the annual general meeting (AGM).

Gupta further stated that the corporation is continuously working to secure natural gas for the country and its customers.

The CMD further stated that Gail has taken initiatives to connect its natural gas pipelines to upcoming new gas sources and RLNG terminals in order to permit greater and new gas injections into its pipelines.

He said that the year 2022 witnessed severe volatility and a shift in geopolitical dynamics that disrupted the world’s energy environment, resulting in a tough year for the global natural gas market, which saw substantial ups and downs.

Noting that the current year appears ‘more promising,’ he stated that GAIL is expected to achieve more than 120 mmscmd of natural gas transmission, more than 100 mmscmd of natural gas sales, and 800 TMT of polymer sales.

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