State-owned GAIL India Ltd is eyeing expansion in petrochemicals, specialty chemicals and renewables as it pivots a new strategy to expand the business beyond natural gas, its chairman Manoj Jain said.
The nation’s largest gas marketer and shipper has adopted a revised future blueprint, called ‘Strategy 2030’ to define its journey through the next decade. “This strategic plan will help us to address our challenges in changing industry scenarios and provide new areas for growth with geographic expansion,” he told PTI in an interview.
GAIL transports over 70 per cent of all gas shipped in the country through its network of 13,340-km network of natural gas trunk pipelines. It sells 55 per cent of all natural gas in the country and has petrochemical plants at Pata in Uttar Pradesh and Lepatkata in Assam that gives it a 17.5 per cent market share.
The firm will convert an existing LPG Plant at Usar in Raigad district of Maharashtra into 500,000 tonnes per annum polypropylene complex with an estimated investment of Rs 8,800 crore by 2023-24, he said adding the company will explore opportunities in the petrochemicals segment to meet high future demand of polyethylene and polypropylene.
“We are also assessing opportunities for certain specialty chemicals in India,” he said.