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GAIL India Ltd is expanding in petrochemicals, specialty chemicals, and renewables as it pivots to expand the business beyond natural gas, its chairman Manoj Jain said.
The nation’s largest gas marketer and the shipper have adopted a revised future blueprint, called ‘Strategy 2030’ to define its journey through the next decade. “This strategic plan will help us address our challenges in changing industry scenarios and provide new areas for growth with geographic expansion,” Jain said in an interview.
GAIL transports over 70 per cent of all gas shipped in the country through its 13,340-km network of natural gas trunk pipelines.
It sells 55 per cent of all-natural gas in the country and has petrochemical plants in Pata (Uttar Pradesh) and Lepatkata (Assam). The firm will convert an existing LPG plant at Usar in Maharashtra’s Raigad district into a 500,000-tonne-per-annum polypropylene complex at an estimated cost of Rs 8,800 crore by 2023-24, said Jain. He added that GAIL will explore opportunities in the petrochemicals segment to meet high demand for polyethylene and polypropylene.
GAIL also has a small portfolio of 120 megawatts (MW) of wind and solar power generation capacity and plans to scale up capacity to 1 gigawatt (GW) at an investment of Rs 4,000 crore in the next 3-4 years.
“While gas will remain our core segment, we will look for growth in other areas such as petrochemicals, speciality chemicals, renewables, water, etc. to reach new heights in the coming years,” he said.
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