GAIL looks at petrochemicals, renewables for growth
07 September 2020
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, its chairman Manoj Jain has said. The nation's largest gas marketer and the shipper has adopted a revised strategic plan identifying priority business initiatives. "This strategic plan will help us to address our challenges in changing industry scenarios and provide new areas for growth with geographic expansion," he said in the company's latest annual report.
GAIL transports over 70% of all gas shipped in the country through its network of 12,426-km network of natural gas trunk pipelines. It sells 55% of all-natural gas in the country and petrochemical plants at Pata and Lepatkata in Assam that gives it a 17.5% market share.
It has a small portfolio of wind and solar power generation capacity. "While gas will remain our core segment, we will look for growth in other areas such as petrochemicals, specialty chemicals, renewables, water, etc. to reach new heights in the coming years," he said. GAIL in the annual report for 2019-20 said it has undertaken 'Strategy 2030' exercise to define its journey through the next decade.
"The strategy has been developed to build a strong business portfolio and organisational structure which is not only robust enough to respond to the fast-changing business scenario but also unlocks growth opportunities for the long-term growth of the company," it said.