![]() Financial Daily from THE HINDU group of publications Friday, Jan 10, 2003 |
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Corporate
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Announcements GAIL plans to invest Rs 12,000 cr in gas grid Our Bureau
NEW DELHI, Jan 9 GAIL India Ltd plans to invest around Rs 12,000 crore in the next seven-to-eight years towards laying a 6,400-km gas pipeline grid across the country. ``We have planned a 6,400-km gas grid inter-connecting the demand centres with supply sources across the country,'' the GAIL Chairman and Managing Director, Mr Proshanto Banerjee, told newspersons here today on the sidelines of the `Petrotech 2003' conference. The gas grid would link the eastern offshore which houses Reliance Industries' seven trillion cubic feet gas reserve and another significant find by Cairn Energy of the UK, to the markets in the southern and western India, Mr Banerjee said. Further, the grid would also link southern markets to eastern parts, which in turn would be connected to markets in the North. GAIL plans to lay the 1,250-km Uran-Hyderabad-Kakinada gas pipeline to connect the eastern coast to the West besides a 1,700-km pipeline from Kolkata in West Bengal through Orissa and Andhra Pradesh to Chennai, the GAIL chief said. Besides, GAIL also plans to lay a 1,000-km gas pipeline from Kolkata through Bihar and Uttar Pradesh to Jagdishpur, terminating with the existing HBJ natural gas pipeline. As part of the grid, GAIL also proposes to lay the 1,290-km Hazira-Uran-Bangalore pipeline, 450-km Kochi-Kasargod-Mangalore pipeline, 370-km Mangalore-Hasan-Bangalore line and 340-km Bangalore-Chennai pipeline. All these projects, which would run up a bill of Rs 12,000 crore, will be financed internally, Mr Banerjee said.
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