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Global crisis not to hit investment plans: GAIL

Source: PTI
October 17, 2008 12:36 IST
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State-run GAIL India on Friday said the global financial crunch will not impact its Rs 30,000 crore (Rs 300 billion) investment plans in pipeline, petrochemicals and citi-gas projects as the company has enough international resources to meet fund requirements.

"We have cash and reserves of Rs 15,000 crore (Rs 150 billion) and are generating Rs 3,500 crore (Rs 35 billion) surplus every year," GAIL India chairman and managing director U D Choubey said.

Investment proposals in pipeline projects and petrochemical plants would not be impacted because of the financial crunch, he said.

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