India’s largest state-owned gas utility GAIL India Limited will invest more than Rs 45,000 crore over the next five years to expand the National Gas Grid and city gas distribution network, reports Economic Times.
Addressing the annual general meeting of shareholders in New Delhi on Tuesday (20 August), GAIL chairman Ashutosh Karnatak said, "At present, your company is expanding the natural gas pipeline network by executing more than 5,700 kilometers of major projects,"
The company, at present, operates 11,000 km of pipeline network and markets two-thirds of all natural gas sold in India.
"Investments worth over Rs 45,000 crore are envisaged in coming few years, across major cross country pipeline projects along Urja Ganga Project, Koch-Kootanad-Bangalore-Mangalore, Indradhanush North East Gas Grid and other crucial pipelines connecting supply and demand centres envisaged under the National Gas Grid," he said.
Karnatak, while speaking to the media persons later, said that the investment would span over the next five years.
Of the total investment, Rs 32,000 crore would be used to lay pipeline while other Rs 12,000 crore will go into city gas distribution (CGD) networks for retailing of compressed natural gas (CNG) to automobiles and piped natural gas to household kitchens. The company will also invest on expansion of petrochemical plants.
As per the report, in the next 3-5 years, GAIL is planning to put up 400 CNG stations as well as 10 lakh piped natural gas (PNG) connections to household kitchens.
The company has increased its pace of building infrastructure to support government’s efforts to move towards becoming a gas-based economy by raising the natural gas share in the energy basket to 15 per cent by 2030 from current 6.2 per cent.
- GAIL ,
- PNG ,
- CNG ,
- Pipeline ,
- Piped Gasline ,
- CGD ,
- National Gas Grid ,
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