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Kamal Narang

Mr U.D. Choubey (left), Chairman and Managing Director, GAIL (India) Ltd, and Mr R.K. Goel, Finance Director, at a press conference in the Capital on Monday. —

Our Bureau

New Delhi, June 15 GAIL (India) Ltd has plans to invest Rs 5,558 crore in 2009-10. Of this, a major portion will be earmarked for the pipeline projects, the company said.

“Of this total investment (Rs 5,558 crore) Rs 4,020 crore will be diverted towards pipeline projects,” it said. GAIL proposes to spend Rs 650 crore towards exploration and production activities, Rs 285 crore in Petrochemicals, and Rs 130 crore in business development.

It has set aside Rs 250 crore for equity investment in city gas projects and Rs 200 crore for Ratnagiri Gas & Power Pvt Ltd, erstwhile Dabhol. The remaining amount would be invested in telecom, it said.

GAIL has set a target of transmitting 94.8 million standard cubic metres a day (mscmd) of natural gas from domestic sources through the liquefied natural gas (LNG) route in the current fiscal. The company also has a gas marketing target of around 83.2 mscmd for the same period.

More Stories on : New Projects | Petroleum | GAIL (India) Ltd

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