Gail to list its subsidiary Gail Gas, aims to invest Rs 54,000 cr in 2 yrs
State-run Gail India plans to list its subsidiary Gail Gas and is aggressively investing in city gas distribution to create volumes before it takes the company to the market, a top company official said.
The Maharatna firm has planned a capital expenditure of Rs 54,000 crore, which it will spend over the next two-three years in laying of gas pipeline network that will feed households and industries such as fertiliser plants.
Out of this, Gail plans to invest Rs 12,000 crore in city gas distribution networks to retail Compressed Natural Gas (CNG) to automobiles and piped natural gas to households in towns such as Varanasi and Patna.
