GAIL may float arm to set up CNG outlets
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17/02/2008
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Business Standard
GAIL India, the country's largest transporter and marketer of natural gas, is looking at the possibility of floating a subsidiary to set up compressed natural gas (CNG) outlets along the highways where it has its pipelines. The company is targeting to become a Rs 50,000 crore company by 2011. The company plans to set up these outlets under its CNG corridor plan and has already identified in the areas Delhi-Agra-Lucknow highway and on the Mumbai-Pune highway. The subsidiary, however, could go in for a partnership to set up these outlets. "We already have city gas distribution such as Mahanagar Gas and Indraprastha Gas. This venture could be on the same lines of partnership,' said U D Choubey, chairman and managing director, GAIL. Gail already has 6,700 km pipeline networks, which it is planning to almost double over the next four years.