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India's GAIL sees 2012/13 capex at $1.3 billion
May 30, 2012 / 10:43 AM / 6 years ago

India's GAIL sees 2012/13 capex at $1.3 billion

NEW DELHI, May 30 (Reuters) - State-run gas utility GAIL India plans capital expenditure of around 74 billion rupees ($1.33 billion) in the current fiscal year that started on April 1, Chairman B.C. Tripathi told reporters on Wednesday.

Most of the expenditure will be on pipeline projects, he said.

To fund the expenditure, the company will raise about 45 billion rupees through debt, including 5 billion rupees through local bonds, and another $300 million through external commercial borrowings, he said.

$1 = 55.82 rupees Reporting by Devidutta Tripathy; editing by Malini Menon

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