Gail India plans to borrow up to Rs 7,000 crore in FY24 to fund the Rs 10,000 crore capital expenditure plan for this fiscal, a top company official said on Friday.
The state-owned company’s chairman and managing director SK Gupta said, “For this fiscal, we plan to spend Rs 10,000 crore”.
He added that even though FY23 was not good for internal resource generation, it invested Rs 9,100 crore, which was 15 per cent higher than the budgeted levels.
He exuded confidence that FY24 will be robust on the internal resource generation front, and there will not be any problem with continuing with the capex.
