GAIL plans capex of Rs 40,000 cr in next four years

State-run GAIL plans a capex of Rs 40,000-crore for the next four-years for various undertaking various projects including sourcing of LNG, a top company official said today.

"We have planned a capex of nearly Rs 40,000-crore over the next four years for undertaking various projects, including capacity expansion of our petro-chemical business as well as LPG and for sourcing of LNG," GAIL's Chairman and Managing Director B C Tripathi told reporters.

Tripathi who was speaking on the sidelines of the launch of first intercity (Mumbai-Panvel-Pune) CNG Eco Drive here today, said the company would be requiring Rs 6,250-crore in this fiscal out of which, it would be raising Rs 2,500-crore from the market.

"We have already tied-up for the amount," Tripathi said.

The company plans to utilise nearly Rs 25,000-crore for its pipeline projects over the next four years. For its petro-chemical business, the company would require around Rs 10,000-crore, over the period he said, adding that the company planned to utilise Rs 1,000-crore for its city gas distribution and other joint ventures.

"We plan to diversify in the renewable energy segment. We have already set up a 5 MW wind power plant and plan to add another 50 MW in the coming years. For this, we would require nearly Rs 500-700-crore," Tripathi said.

On reports that GAIL was looking to pick up stake in LNG projects in Nigeria, Tripathi said, "we are examining participation in the LNG equity across the globe wherever it is possible. Yes, Nigeria is one place where we plan to pick up stake in LNG projects," he said.