GAIL is India’s largest gas marketer and shipper and has now decided to adopt a revised plan to address new challenges in the changing industry.
On adopting a new strategy, GAIL chairman Manoj Jain said, “GAIL India Ltd is eyeing expansion in petrochemicals, specialty chemicals and renewables to supplement growth in its core business of natural gas marketing and transportation.”
He further added “while gas will remain our core segment, we will look for growth in other areas such as petrochemicals, renewables, water , etc to reach new heights in the coming years.”
Currently the company ships 70% of gas through its network of12,426 km of natural gas trunk pipelines. By expanding, the company can leverage the high demand of polyethylene and polypropylene in the coming years.
GAIL said, “We will be selectively making investments in the renewable energy domain given the future growth potential. The company is exploring the opportunity of acquiring stakes in renewable energy assets of existing players and also looking towards participating in the solar park tenders s a solar power producer”.
