Mumbai:
Gas Authority of
India Ltd (GAIL) plans to raise up to Rs7,000 crore ($1.72 billion) from domestic
and foreign markets to double its pipeline network by 2011. The
expansion of the pipeline to 12,000 km will cost Rs20,000 crore, company''s director
(finance), R Goel, said while speaking on the gas distribution projects in China
and India. GAIL,
he said, will soon form a 50:50 joint venture in Bermuda. To
fund expansion plans, GAIL may also go for selling a part of its stakes in Oil
and Natural Gas Corporation (ONGC) and China Gas Holding Ltd, he said.
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