GAIL to invest Rs 3413 cr in FY 2008-09

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New Delhi, May 13 (UNI) Country's largest gas transmission and marketing company GAIL (India) Ltd today said it plans to invest Rs 3,413 crore during the current fiscal in various projects.

''We plan to invest about Rs 3,413 crore during FY 2008-09 in various projects,'' company Chairman and Managing Director U D Choubey told reporters at the announcement of company's financial results.

The state-run firm will invest Rs 2,565 crore in pipeline projects, Rs 500 crore in exploration and production, while Rs 187 crore will be infused into petrochemicals business.

The company also plans to invest Rs 115 crore in business development, beside investing the rest amount in city gas and telecom projects.

For 11th Plan, the company plans capital expenditure of Rs 30,000 crore.

''This includes Rs 20,000 crore for the pipeline projects, Rs 4,000 crore for the exploration and production and the rest for the city gas projects,'' Mr Choubey said.

UNI MP AK VC1725

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