GAIL hopes to register 40 per cent jump in revenue this fiscal
State gas transmission firm GAIL India is likely to see 40 per cent jump in its revenues to Rs 22,446 crore this financial year.
By PTI |
NEW DELHI: State gas transmission firm GAIL India is likely to see 40 per cent jump in its revenues to Rs 22,446 crore this financial year.
According to a presentation made to the Parliamentary Consultative Committee attached to Petroleum Ministry, GAIL would see revenues increase to Rs 22,446 crore in 2007-08 from Rs 16,047 crore the previous year.
The company is projected to see revenues further rise to Rs 23,918 crore in 2008-09, Rs 27,014 crore in 2009-10, Rs 29,580 crore in 2010-11 and Rs 29,230 crore in 2011-12.
In the short-term the company is targeting to maintain its dominant position in gas transmission and trading and expanding city gas distribution projects to several cities, according to the presentation.
In the medium to long term, GAIL is seeking cooperation with gas producers for fuel sourcing, transmission and distribution as well as participating in pipelines, E&P and city gas ventures overseas. It would also add petrochemical capacity in India and abroad.
GAIL is planning to invest about Rs 18,000 crore in new pipelines over the next five years, it said.
The company has signed initial agreements with gas producers Oil and Natural Gas Corp (ONGC) and Reliance Industries for sourcing of natural gas from their future fields. Besides, it is also looking at sourcing LNG from Malaysia, Algeria and Australia.
GAIL continues to pursue gas imports from Iran through Iran-Pakistan-India pipeline and from Turkmenistan through Turkmenistan-Afghanistan-Pakistan-India pipeline, the presentation said.
According to a presentation made to the Parliamentary Consultative Committee attached to Petroleum Ministry, GAIL would see revenues increase to Rs 22,446 crore in 2007-08 from Rs 16,047 crore the previous year.
The company is projected to see revenues further rise to Rs 23,918 crore in 2008-09, Rs 27,014 crore in 2009-10, Rs 29,580 crore in 2010-11 and Rs 29,230 crore in 2011-12.
In the short-term the company is targeting to maintain its dominant position in gas transmission and trading and expanding city gas distribution projects to several cities, according to the presentation.
In the medium to long term, GAIL is seeking cooperation with gas producers for fuel sourcing, transmission and distribution as well as participating in pipelines, E&P and city gas ventures overseas. It would also add petrochemical capacity in India and abroad.
GAIL is planning to invest about Rs 18,000 crore in new pipelines over the next five years, it said.
ADVERTISEMENT
The company has signed initial agreements with gas producers Oil and Natural Gas Corp (ONGC) and Reliance Industries for sourcing of natural gas from their future fields. Besides, it is also looking at sourcing LNG from Malaysia, Algeria and Australia.
GAIL continues to pursue gas imports from Iran through Iran-Pakistan-India pipeline and from Turkmenistan through Turkmenistan-Afghanistan-Pakistan-India pipeline, the presentation said.
Start a SIP with as low as ₹500 with ET Money App!
Download
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
ADVERTISEMENT
