News Buzz

GAIL to invest in infra for gas-based economy

India’s largest gas utility, GAIL India Ltd has decided to invest Rs 1.05 lakh crore over the next five years to expand pipelines, lay city gas distribution network and raise petrochemical production capacity. The pipelines will transport natural gas to the east and northeast regions as well as to consumers in the south. This is one of the strategies to aise the share of natural gas in India’s energy basket to 15% by 2030 from the current 6.2%.

“We have planned a capex of Rs 45,000 to Rs 50,000 crore in laying pipelines, Rs 10,000 crore petrochemical capacity expansion and another Rs 40,000 crore for city gas distribution (CGD) business,” stated GAIL’s new chairperson and managing director Manoj Jain. push for infrastructure creation is in line with Prime Minister Narendra Modi’s vision of creating a gas-based economy that is less reliant on polluting fuels for meeting its energy needs.