Gas Authority of India Limited (GAIL) has reported a 45% rise in its net profit to Rs 911 crore for Q4 ended March 2010. GAIL plans to invest nearly Rs 35,000 crore in the next 3-4 years in several pipeline projects, petrochem plant upgradation and in renewable sources of energy like wind and solar power. This fiscal year will see capital expenditure of approximately Rs 8000 crore. GAIL will construct 1,200 km pipeline by the end of this year, after which GAIL’s gas transmission capacity will become 200 mln standard cubic meters per day.
The petrochemicals segment has contributed almost 28-29% to the company bottom line. Petrochemical capacity will be augmented this fiscal rom 420,000 tons to 460,000 tons.