GAIL, Coal India form joint venture to boost synthetic gas production
GAIL (India) Limited and Coal India Limited on Tuesday announced the formation of a joint venture, Coal Gas India Limited, to expand the use of synthetic natural gas.
State-run GAIL (India) Ltd will look for growth in areas including petrochemicals, renewables among others, said the company’s CMD Manoj Jain.
The CMD’s message to the shareholders in the company’s annual report said that gas will continue to be its core focus.
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“While gas will remain our core segment, we will look for growth in other areas such as petrochemicals, specialty chemicals, renewables, water etc. With our newly embraced mission and vision as guiding principles and strategic initiatives as the chosen path, I am confident that GAIL will reach new heights in coming years,” he said.
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Jain added that last year, the company had adopted a revised strategic plan identifying priority business initiatives and reviewed at our purpose with new vision and mission statements.
“This strategic plan will help us to address our challenges in changing industry scenario and provide new areas for growth with geographic expansion meeting high employee aspiration,” he said.
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