Ahead of the public offer to divest ten per cent government equity, state-owned Gas Authority of India Ltd said on Friday that it would raise $100 million through external borrowing.

GAIL has capital expenditure plans of about Rs 3,850 crore (Rs 38.5 billion), which includes Rs 2,500 crore (Rs 25 billion) on pipelines, Rs 636 crore (Rs 6.36 billion) on new business development and Rs 75 crore (Rs 750 million) in telecom.

The Divestment Development: Complete Coverage

The company would add 50,000 tonne capacity in petrochemicals by way of de-bottlenecking in the next two-three months and add new furnace and upstream units to enhance the capacity further by 1,20,000 tonnes, he said.

GAIL director (planning and business development) Rajeev Khanna said the company along with Oil and Natural Gas, Oil India Ltd and Indian Oil Corporation is scouting for exploration and other opportunities in the gasfields in Iran.

He said the plan for offshore gas pipeline from Iran would be completed within the next four months while the design and data survey were more or less done.

The company was also in talks for technology participation for diesel substitution with compressed natural gas in Pakistan, he said, adding, the company was looking at the transport sector, cooperation on gas grid, operational code of grid management and also investments in the United Kingdom.