New Delhi, June 3 (UNI) State-run gas transporter GAIL India Ltd said its newly-formed subsidiary GAIL Gas will invest Rs 35 crore for setting up CNG stations along highways.
GAIL Gas Ltd, which was set up last week, will focus on city gas distribution, including piped natural gas for domestic and industrial purposes, as well as CNG for vehicles and auto LPG for transport vehicles, a company statement said.
GAIL Gas will invest in setting up CNG corridors, which will include natural gas compressor stations, laying of pipelines and distribution points or retail outlets, and has identified 230 cities for the city gas distribution project, it added.
It may be 'easily listed in future to provide further upside as well as liquidity to GAIL', it added.
GAIL, had last month said, it planned to invest Rs 3,410 crore in 2008-09 toward pipeline projects, exploration and production.
UNI SR MP RK1157