Gail to invest in new projects

According to the company’s chairman and managing director, Proshanto Banerjee, “The company will invest about $330 million for the 504-km Dahej-Uran pipeline, which is to become operational by April 2005. A further $145 million is likely to be spent on expanding the petrochemicals capacity at the UP facility. Also, about $440 million will be spent on several other projects, including foreign investments of $133- $155 million”, he said. During the first nine months of 2003-04, Gail has spent over $445 million on various projects, the main one being the 610-km Dahej-Vijaipur gas pipeline.

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