State-owned GAIL India aims to spend Rs 12,159.25 crore over the Eleventh Five Year Plan period starting 2007-08.
NEW DELHI: Despite being unable to spend 14% of its planned capital expenditure during the Tenth Five Year Plan (2002-2007), state-owned GAIL India aims to spend Rs 12,159.25 crore over the Eleventh Five Year Plan period starting 2007-08. It aims to garner a total net profit of Rs 8,869 crore over the period.
For the next year, the company is envisaging an expenditure of Rs 3,155.08 crore, of which Rs 781.24 crore would be spent on the Dahej-Hazira-Uran pipeline project.
GAIL India expects to close the current financial year with a profit after tax of Rs 1,418 crore, assuming a subsidy burden of Rs 1,000 crore. The profit may be well below last year’s Rs 2,310 crore, though sources said that with one quarter still left for the year to close, the figures may just change with lower subsidy burden.
The planned capex for the period is 67% higher than the actual expenditure of Rs 7,259.26 crore incurred during the Tenth Plan period ending March 31, 2007.
The gas transportation and marketing company will be unable to meet its targeted spending of Rs 2,967.28 crore during the current year. The revised expenditure for the current year will be Rs 2,632.14 crore, mainly due to delay in the execution of Dahej-Uran, Vijapipur-Kota and Jagoti-Pithampur pipelines and the Pata expansion project.
The company’s estimated expenditure for 2007-12 is based on execution of major projects like Dahej Uran & Dabhol-Panvel, Jagdishpur-Haldia, Vijaipur-Jagdishpur, Dadri-Nangal, Kochi-Kayamkulam pipelines, Assam gas cracker, coal gasification and other projects like city gas distribution.
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