Gail targets Rs 50,000cr revenue

The Gail (India) said on Monday that it is targeting revenues of Rs 50,000 crores plus by 2011 against a revenue of Rs 16,047 crores in the year 2006-07. Speaking at the twenty-third annual general meeting of the company, Gail chairman and managing director Dr U.D. Choubey said that the PSU has chalked out a multi-pronged strategy to attain this target. Dr Choubey said that the company will focus on protecting and strengthening the core competencies of gas transmission, distribution and marketing businesses and will pursue margin enhancing businesses like petrochemicals and city gas projects.
He said that the company intends to use first mover advantage to strategic benefit in gas retailing and evolve a partnership based business model with gas producers. Similarly, the company will diversify downstream presence in gas based LPG and petrochemicals plants. He said that Gail will aggressively pursue gas sourcing options both from the new domestic sources as well as through international sources by way of pipelines and LNG route, to secure gas supplies for transmission and trading businesses.
The company will also endeavour to secure its own sources of gas through participation in exploration and production and intends to participate aggressively in the upcoming E&P opportunities including NELP VII. "Towards implementing the above strategy, Gail is focusing on leveraging the potential of its human resources through specific measures to train, motivate and channelise them towards the organisational goals," said Dr Choubey.