GAIL to Expand its Foothold in the Petrochemicals, Specialty Chemicals and Renewable Energy Sector
- Journalist: Francis Stokes
As a part of its revised strategic plan, GAIL Limited is eyeing to expand its foothold in petrochemical, specialty chemicals and renewable energy domains. The new initiative has been adopted to adhere to the shifting market dynamics and explore new areas for growth in the long run. It further aims at developing a lasting business portfolio which is suitable to match the changing pace of the market. GAIL India Limited, is the leading natural gas processing and transmission company in the country. The company constitutes more than 70 per cent share in all the gas shipped in India. It also, encompasses 17.5 per cent of overall market share of Natural gas with its large-scale petrochemical’s plants at Pata and Lepatkata. It also holds a small portfolio in renewable energy alternatives such as solar and wind energy. According to GAIL’s chairman, the company will keep gas processing as its core segment but will expand its foothold it other sectors to minimize the future risk. GAIL’s interest in the petrochemical sector, is also to brace its existing presence in the Polyethylene and Polypropylene derivatives. Moreover, the company is eyeing to selectively invest in renewable energy sector to withstand the rising shift towards green energy in the upcoming years. For the same reason, it is looking for new opportunities for making Hydrogen as a viable segment in its business portfolio.