Gujarat State Petronet Ltd (GSPL), the gas transportation arm of the GSPC Group, plans to invest nearly Rs 3,000 crore on expanding its network of gas pipelines in the state over the next five years.
A GSPL official said here on Friday that the listed company has estimated that the volume of gas supplies in Gujarat would increase from around 35 million metric standard cubic metres per day (mmscmd) in March 2011 to 45 mmscmd in the next couple of years.
The company, which has so far laid a 1,900-km-long gas pipeline network across Gujarat, will be extending it up to 2,400 km in the next five years, with a capital expenditure of Rs 600 crore to Rs 700 crore every year .
New projects
In July 2011, a GSPL-led consortium got the Rs 12,500 crore gas pipeline contract for the 1,585-km-long Mallavaram-Bhilwara pipeline, the 1,670-km-long Mehsana-Bhatinda pipeline and the 740-km-long Bhatinda-Jammu-Srinagar pipeline.
These inter-state pipelines will carry around 95 mmscmd of gas daily. The projects are expected to be completed within 36 from the date of award of the letter of authorization, the sources said. GSPL's net profit was up 31 per cent to Rs 137.37 crore (Rs 105.10 crore) in the quarter ended June 2011.