GAIL to become Rs 50,000 cr firm in 2 yrs: Choubey

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New Delhi, Nov 19 (UNI) GAIL (India) Ltd, the country's largest gas transmission and marketing firm, today said it will become a Rs 50,000 crore company in next two years and 25 years down the line, it will touch Rs 2,00,000 crore mark.

''In next two years, our firm will be worth Rs 50,000 crore...

which will go up to Rs two lakh crore in 25 years,'' company Chairman and Managing Director U D Choubey told reporters here.

The Rs 20,000 crore GAIL is integrating all aspects of the natural gas value chain (including Exploration&Production, Processing, Transmission, Distribution and Marketing) and its related services.

He said for achieving the target, the company is mulling to restructure its business and through the joint venture route.

''We are considering to spin-off our ventures into four different subsidiaries for better efficiency through focused vision,'' he added.

In this direction, Mr Choubey said the company would take a final decision in the next 12 months.

Meanwhile, he hoped to get 19 per cent equity in the country's largest oil explorer Oil and Natural Gas Corporation's Dahej petrochemical plant.

Commenting on the impact of global meltdown on the performance of his company, he said, ''there is no financial crisis as GAIL is 'zero' debt company as of today.'' ''We have an internal generation of Rs 14,000 crore, and every year we are adding Rs 4,000 crore...we have sufficient money till the end of next year.'' Post-2009, if need be, the company could also fund the projects through domestic borrowing and the External Commercial Borrowing, Mr Choubey said.

He said GAIL plans to double its Pata petrochemical plants capacity to 8,00,000 tonnes in 3-4 years.

Mr Choubey said the polymer market was growing rapidly in India and the growth rate registered in the recent times has been significant.

UNI SBA MP PK RK1816

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