State-run gas distribution and exploration major GAIL has sought the government’s nod for supplying pipeline gas in 230 cities across the country, a top GAIL official said today.
“GAIL was the first company to introduce city gas projects in India to supply pipelined natural gas and compressed natural gas and formed eight joint ventures for the purpose,” GAIL chairman and managing director, Mr UD Choubey said.
“Gail is expecting a revenue of Rs 50,000 crore plus by 2011 from a revenue of Rs 16,047 crore in the year 2006-07,” Mr Choubey said while addressing the shareholders at the annual general meeting here.
For the year 2006-07, GAIL reported a profit after tax of Rs 2,387 crore as against Rs 2,310 crore in the previous year, while turnover went up to Rs 16,047 crore in 2006-07 as compared to Rs 14,459 crore in 2005-06, a growth of 11 per cent.
“The company has recently approached the government with firm plans for granting approval to pursue city gas projects in 230 cities across the country,” Mr Choubey said.
GAIL, he said, would complete its eight new pipeline projects by 2011. This will be part of its ambitious programme for a nationwide integrated gas grid spread over 5,000 km at an estimated expenditure of Rs 200 billion.
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“GAIL was the first company to introduce city gas projects in India to supply pipelined natural gas and compressed natural gas and formed eight joint ventures for the purpose,” GAIL chairman and managing director, Mr UD Choubey said.
“Gail is expecting a revenue of Rs 50,000 crore plus by 2011 from a revenue of Rs 16,047 crore in the year 2006-07,” Mr Choubey said while addressing the shareholders at the annual general meeting here.
For the year 2006-07, GAIL reported a profit after tax of Rs 2,387 crore as against Rs 2,310 crore in the previous year, while turnover went up to Rs 16,047 crore in 2006-07 as compared to Rs 14,459 crore in 2005-06, a growth of 11 per cent.
“The company has recently approached the government with firm plans for granting approval to pursue city gas projects in 230 cities across the country,” Mr Choubey said.
GAIL, he said, would complete its eight new pipeline projects by 2011. This will be part of its ambitious programme for a nationwide integrated gas grid spread over 5,000 km at an estimated expenditure of Rs 200 billion.
http://inwww.rediff.com/news/business.html