The new corporate business plan, titled ‘Next Wave’, aims at increasing the company’s turnover to Rs 1 lakh crore by 2020 from the current level of Rs 24,996 crore. Our current networth is of the order of Rs 60,000 crore. The company has no plans for initial public offering, but it would use multiple instruments to mobilise resources to finance its projects. The company plans to spend nearly Rs 1,000 crore annually on E&P.
GAIL India plans to commence drilling in its Rajasthan block by January and in Cauvery block by April. It will set up another wind project of 50 Mw. Besides, the company would participate in the National Solar Mission, with the development of 50 Mw solar thermal power project. The company proposed to pick up equity in upstream LNG projects in Africa, Indonesia, Malaysia and Australia. GAIL India, either individually or through joint ventures, is engaged in expanding city gas distribution network. It is also investing Rs 27,000 crore by 2013-14 for laying natural gas transmission network.
During 2010-11, GAIL India would raise Rs 6,275 crore through domestic and foreign lenders. Of the $300-million external credit assistance, it has already got $100 million, Rs 1,250 crore from HDFC and Rs 700 crore from Oil Industry Development Board. The company planned to raise Rs 8,000 crore in 2011-12 through domestic, inter-corporate loan and external commercial borrowings.
| Company Name | CMP |
|---|---|
| GAIL India | 160.80 |
| Gujarat Gas | 374.25 |
| Indraprastha Gas | 167.25 |
| Mahanagar Gas | 1136.55 |
| Adani Total Gas | 614.85 |
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