Gail plans Rs 35,000cr capex in 3 yrs

May 18, 2010 |

New Delhi

State-run Gail India on Tuesday reported a 45 per cent jump in net profit to Rs 911 crore for the fourth quarter ended March 2010, on higher revenues from natural gas and LPG transmission, and petrochemical businesses.

The total income of the gas utility increased to Rs 6,522 crore during the January-March period of FY’10 from Rs 6,128 crore of the same quarter a year ago, GAIL chairman and managing director, Mr B.C. Tripathi, said.
The net sales from the petrochemical business increased by 17 per cent to Rs 822 crore during the quarter under review against Rs 705 crore in the same period FY’09.
Gail also said that it has plans to invest nearly Rs 35,000 crore in the next 3-4 years in several pipeline projects, petrochem plant upgradation and in renewable sources of energy. “We hope to construct 1,200 km pipeline by 2010 end, after which our gas transmission capacity will become 200 million standard cubic me-tre per day,” he said. — PTI

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