GAIL to raise Rs 70 bn for network expansion
GAIL to raise Rs 70 bn for network expansion In order to double its pipeline by 2011, the state-run gas utility GAIL (Q, N,C,F)* (India) plans to raise up to Rs 70 billion from domestic as well as overseas markets, reports Business Line. > To meet the further capital requirements for the network expansion, the company might offload its stake in ONGC and China H oldings. Shares of the company closed up Rs 11.2, or 3.58%, at Rs 324.35. The total volume of shares traded at the BSE was 192,084. (Tuesday)
The company intends to expand its pipeline network to 12,000 km at a cost of Rs 200 billion by 2011-12.
