In an interview with PTI, Manoj Jain, Chairman, GAIL India said that the company is eyeing expansion in petrochemicals, specialty chemicals and renewables as it pivots a new strategy to expand the business beyond natural gas.
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 said.
At present GAIL has a small portfolio of 120 MW of wind and solar power generation capacity which it plans to scale up to 1 GW at an investment of Rs 4,000 crore in next 3-4 years.
“We are also assessing opportunities for certain specialty chemicals in India,” added Jain.
“While gas will remain our core segment, we will look for growth in other areas such as petrochemicals, specialty chemicals, renewables, water, etc to reach new heights in coming years. This with a view to build a strong business portfolio and organisation structure which is not only robust enough to respond to the fast-changing business scenario but also unlocks growth opportunities for the long-term growth of the company.” he said.