GAIL to invest in start-ups operating in focus areas

Our Bureau | | Updated on: Jul 06, 2022
In FY22, GAIL’s total capex stood at ₹7,700 crore

In FY22, GAIL’s total capex stood at ₹7,700 crore | Photo Credit: ADNAN ABIDI

The company has now opened a fresh round for the solicitation of investment proposals from start-ups

State-run gas utility GAIL on Wednesday said it has opened a fresh round of talks to invest in start-ups working in the fields of natural gas, petrochemicals, energy, project management, logistics, electric mobility, among others.

“In a bid to support the start-ups operating in identified focus areas, GAIL plans to invest in such companies through its start-up initiative, Pankh,” the CPSE said in a statement.

GAIL has now opened a fresh round for solicitation of investment proposals from start-ups operating in focus areas, which mainly include natural gas, petrochemicals, energy, project management, logistics, electric mobility, bio manure marketing, nano materials, IoT and data mining, environment, health and social, etc, it added.

The start-ups interested in equity investment from GAIL can apply through the link “GAIL Pankh” on GAIL’s website. The current solicitation round will remain open until July 31, 2022.

In FY22, GAIL’s total capex stood at ₹7,700 crore, which was mainly utilised on pipelines, petrochemical, CGD projects, operational capex, equity contribution, and E&P.

In the next three years, the total capex is expected to be around ₹30,000 crore, mainly on pipelines, petrochemicals, CGD, operational capex, equity contribution, and E&P, as well as renewable projects.

Published on July 06, 2022
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