GAIL Comes Up With Rs 30000 Cr Capex Plan For Expansion

Public sector company, Gas Authority of India Limited (GAIL) has come up with the investment plan of Rs 30000 Cr for expansion, reported the leading business daily.

Out of Rs 30000 Cr, Rs 8000 Cr are likely to be used for coal gasification, Rs 1500 Cr in city gas and Rs 1000 cr in breakwater water project, added the business daily.

The current projects of the company will be completed by 2019-20. The company has spent Rs 2180 Cr in FY17 in capital expenditure and plans to spend Rs 4261 Cr in FY18 and Rs 7704 Cr in FY19. The company also have the ambitious project with HPCL to set up Rs 1.7 million tonnes petrochemical plant in Andhra Pradesh.

The stock is showing some weakness on the bourses in Wednesday’s trade. The BSE Oil and Gas index is trading marginally higher by 0.11% at 13678 level.

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