GAIL announces Rs 2,744 cr capex for FY'08

New Delhi, May 9 (UNI) GAIL India Ltd will invest Rs 2,744 crore during this fiscal and Rs 6,000 crore in FY 2008-09 in several projects, including pipeline, petrochemical and E&T.

''Out of Rs 2,744 crore, Rs 2,500 crore will be borrowed through external commercial borrowing (ECB),'' company's Chairman U D Choubey told reporters.

Sixty per cent of the borrowing will be met from foreign market, while the rest will be raised from domestic sources, he added.

UNI