Browsing Category

Press Release

WhatsApp Image 2017-02-06 at 7.43.46 AM

Cyclothon organized by PCRA in New Delhi to promote fuel-less transport

New Delhi, 06.02.2017:  

A cyclothon was organized today at India Gate as a part of ‘Saksham 2017’ – an initiative by Petroleum Conservation Research Association (PCRA) and oil and gas sector PSUs, under the aegis of Ministry of Petroleum of Natural Gas. The cyclothon was flagged off by Shri Ajay Nishad, Hon’ble MP, Muzaffarpur (Bihar), Col. (Retd.) Sona Ram Choudhary, Hon’ble MP, Barmer (Rajasthan), Smt. Rama Devi, Hon’ble MP Sheohar (Bihar), Shri Rameswar Teli, Hon’ble MP, Dibrugarh (Assam). The Hon’ble MPs, while speaking on the occasion, stressed the need for cycling for better health, environment and fuel conservation.  

Shri K D Tripathi, Secretary, Ministry of Petroleum & Natural Gas, senior officials of the Ministry, CMDs, Directors of various oil and gas sector PSUs led the participation in the event. More than 600 cyclists including celebrities, sports personalities and citizens from different walks of life took part in the event. The Cyclothon and ‘cycle ride’, which began early in the morning at 7.30 a.m., was flagged-off from Amar Jawan Jyoti and culminated at Parliament Gate.  

Cheering up the cyclists, Shri K D Tripathi, Secretary, Ministry of Petroleum and Natural Gas emphasized the need to optimize fuel consumption. Traveling short distances on foot or cycling, carpooling, route planning, switching off engine at red lights, switching to energy efficient equipment were a few simple tips, the Secretary urged people to adopt in their daily lives.

Cycling 30 minutes a day can keep one healthy, young and free from many ailments. It is an excellent inexpensive exercise to strengthen cardiovascular activity, increase brain power, reduce stress and shed body fat. Researchers from the University of Illinois found that a five per cent improvement in cardio-respiratory fitness from cycling led to an improvement of up to 15 per cent in mental test, because cycling helps in building new brain cells in the hippocampus –the Region Responsible for Memory. For a motorist, it is also an attractive financial proposition as this could result in a saving of upto Rs. 1000 per month on fuel bills, besides reducing 36 kilogram CO2 emissions from the environment.

‘Saksham (Sanrakshan Kshamta Mohotsav) 2017’ is a month long drive to spread awareness about fuel and environment conservation during 16th January to 15th February 2017 organised by PCRA. A number of people-connect activities like walkathons, cyclothons, fuel saving concerts, driver training workshops, group talks on LPG saving tips, fuel saving opportunities in transport, domestic, industry and agricultural sectors etc. are being conducted by PCRA and oil & gas sector PSUs to involve masses and create awareness on the need and ways to conserve fuel as a measure towards ensuring India’s energy security and environment protection.

Shri B C Tripathi

GAIL Board approves issuance of bonus shares, interim dividend and raising of funds through Bonds

New Delhi, January 27, 2017: GAIL (India) Limited has recommended issuance of one bonus share for every three equity shares held of Rs 10 each fully paid up, subject to shareholders approval. The decision was taken by the Company’s Board of Directors in its meeting held on 25th January, 2017. Consequently, the paid-up share capital of the Company will increase from Rs. 1,268.48 crore to Rs. 1,691.30 crore.

Earlier, GAIL had issued bonus shares of one fully paid-up bonus share for every two equity shares in October 2008.

GAIL’s Board also approved payment of interim dividend for the financial year 2016-17 at the rate of 85 per cent of paid-up equity share capital of the Company (Rs 8.5 per share). Interim Dividend will be paid with reference to the ‘Record Date’ i.e. 3rd February, 2017 fixed for the said purpose.

GAIL’s Board in its meeting held on 25th January, 2017 also approved raising of funds through secured/ unsecured, redeemable, non-convertible, taxable INR bonds up to Rs 750 crore with green shoe option up to 100 per cent of issue size aggregating up to Rs 1,500 crore on private placement basis, in one or more tranches.

GAIL Chairman & Managing Director Shri B C Tripathi said that GAIL is issuing bonus shares for the second time after its listing on the stock exchanges. “The decision has been taken in order to enhance shareholders’ value and acknowledge their support to the Company over the years,” he said.

Shri Tripathi further said that work on the prestigious Jagdishpur – Haldia –Bokaro – Dhamra Pipeline Project, popularly called the Pradhan Mantri Urja Ganga, is going on in full swing and GAIL is committed to complete the project within scheduled time. He said work on the Uttar Pradesh and Bihar sections of the Urja Ganga project has made significant progress and the next phase of the project is likely to commence in the second half of 2017.

The Chairman also stated that the expansion of the Petrochemical plant at Pata has stabilized. The production from subsidiary Brahmaputra Cracker & Polymer Limited’s plant in Assam, in which GAIL has 100 % marketing rights, is being ramped up. GAIL is looking to capture new markets for its petrochemical products and has commenced exports to China, Nepal, Bangladesh, Myanmar and Vietnam.

GAIL’s subsidiary GAIL Gas is executing its flagship City Gas Distribution project in Bengaluru and supply of piped natural gas to households has already commenced. Further, CNG stations have been set up to cater to the needs of vehicles in the city.

The issue of the INR bonds would help in funding the growing capex requirements for the future growth of the Company, Shri Tripathi said.

whatsapp-image-2016-12-22-at-3-57-37-pm

Kashipur (Uttarakhand), December 22, 2016: In order to popularise use of environment- friendly fuels, Hon’ble Minister of State for Petroleum and Natural Gas (Independent Charge) Shri Dharmendra Pradhan today launched an awareness campaign here to highlight the benefits of Natural Gas and the Pradhan Mantri Ujjwala Yojana under which LPG is provided to underprivileged households. Hon’ble Minister of State for Textiles Shri Ajay Tamta, Hon’ble MP and former Uttarakhand Chief Minister Shri Bhagat Singh Koshyari, Hon’ble MLA Shri Harbhajan Singh Cheema, Hon’ble Mayor of Kashipur Smt. Usha Chowdhury, BJP District President Shri Ram Mehrotra, Shri B.C Tripathi, CMD, GAIL (India) Ltd., along with other dignitaries were present on this occasion.

 

This is the first time that an awareness campaign of this nature is being carried out in Udham Singh Nagar district which is connected to the country’s natural gas grid through GAIL (India) Limited’s pipeline network.

 

Natural gas is one of the most environment friendly fuels available today. Its usage helps in curtailing the toxic emissions from the industrial and transport sector. Moreover, supply of natural gas through pipelines is uninterrupted, safe and reliable.

 

GAIL supplies natural gas to Uttarakhand through its 89 km of pipeline network covering Haridwar and Udham Singh Nagar districts. These are the Saharanpur – Haridwar and Karanpur – Kashipur -Rudrapur pipelines which serve the energy needs of customers in Roorkee, Haridwar, Kashipur and Rudrapur regions.

 

Moreover, another 100 Km of pipeline network, i.e., Haridwar – Rishikesh/Dehradun and Rudrapur – Pantnagar – Haldwani are being planned at an investment of about Rs. 200 Crore. These pipelines will connect two new districts of the state, viz. Dehradun & Nainital, with the Natural Gas grid of India.

 

City Gas Distribution (CGD) networks are already being developed in Udham Singh Nagar and Haridwar districts to supply environment-friendly piped natural gas (PNG) to households and compressed natural gas (CNG) to vehicles.

 

With thousands of domestic customers in the state expected to convert to PNG in the coming months, the LPG connections freed up as a result will be provided to beneficiaries from below poverty line (BPL) families through the Pradhan Mantri Ujjwala Yojana. Already, 13,900 households in Uttarakhand have been provided LPG connections under the scheme.

 

The CGD network in Udham Singh Nagar district is being implemented by IndianOil-Adani Gas Pvt Ltd (IOAGPL) which will lay more than 300 kms of pipeline network to supply PNG to more than 40,000 houses in the district in 10 years. The network shall cover all important demand centres at Rudrapur, Kashipur, Jaspur, Bajpur, Khatima, Sitarganj and Gadarpur and in five years.

 

IOAGPL shall also set up 10 CNG stations to provide CNG to vehicles. The company shall invest Rs 200 crores in five years and the project is expected to generate direct and indirect employment for 1,50,000 people. The first phase of the Udham Singh Nagar CGD network is likely to be commissioned by March 2017.

 

Further, a joint venture of GAIL’s subsidiary GAIL Gas and Bharat Petroleum is executing the city gas distribution project in Haridwar District. This project will benefit about 17,000 households which will get PNG connections while around 10,000 vehicles can convert to CNG. The projected Capital Expenditure for the first five years in the project is Rs 148.91 Crore.

 

The gas pipeline network shall also supply gas to the industrial and commercial units. Industrial units shall be able to use natural gas for various applications such as process agent, heating, power generation, cooling, etc. Its usage improves the efficiency and helps to cut down the carbon emissions.

gail-mou

IndianOil and GAIL sign MoU for taking equity stake in upcoming Dhamra LNG terminal

Indian Oil Corporation Limited and GAIL (India) Limited  have today signed an MoU with Dhamra LNG Terminal Private Limited (DLTPL) for taking equity in the 5 MMTPA capacity LNG Receiving, Storage and Regasification Terminal being put up at Dhamra Port, Odisha.

 

As per the MoU, DLTPL shall be an equal Joint Venture of IndianOil and GAIL on one hand and Adani Group on the other. IndianOil and GAIL would acquire 39% and 11% equity respectively in DLTPL with the balance 50% being held by Adani group.  Going forward, IndianOil and Adani group will each divest 1% of their respective stake to a credible financial institution which will then have 2% stake in the terminal. Apart from equity, IndianOil and GAIL intend to book regasification capacity of 3.0 and 1.5 MMTPA respectively in the terminal.

37f749fb-0326-419e-88b6-8eea4aac7072

The development comes in the backdrop of Government’s consistent focus on undertaking welfare and growth measures in eastern India so as to bring this hitherto underdeveloped region into the economic mainstream of the country. Prime Minister Narendra Modi has maintained that India cannot develop till the eastern part of India develops.

 

Presently, the states in eastern India viz. Odisha, Bihar, Jharkhand and West Bengal are not able to get the benefits of natural gas in sectors like Domestic, Transport, Industries etc., as the region does not have gas infrastructure by way of LNG Terminals and cross-country gas pipeline grid. The LNG Terminal at Dhamra would provide the potential customers in these states a clean and economically viable alternative which will also help in reducing the carbon footprint. This will also provide momentum to the economic growth of this region by attracting new industrial projects.

 

The LNG Terminal would also meet the gas requirements of three oil refineries of IndianOil situated in Barauni, Haldia and Paradip. The three fertilizers plants at Barauni, Sindri and Gorakhpur which are being revived by Govt. of India will also benefit from this terminal. The natural gas from the terminal would also be supplied to various City Gas Distribution networks coming up in eastern India, which in turn would cater to the requirements of piped gas for households, CNG for automobiles and clean fuel requirements of commercial establishments and industries. It is, therefore, expected that once operational, Dhamra LNG terminal will emerge as a bridge to prosperity for the entire eastern India.

 

Meanwhile, in another historic development earlier today, Cabinet Committee on Economic Affairs approved Capital Grant of 40%, amounting to Rs. 5,176 Crores over 5 years, for Jagdishpur-Haldia and Bokaro-Dhamra Pipeline (JHBDPL) project, which is being implemented by GAIL (India) Limited at a total capital outlay of Rs. 12,940 Crores. This is the first time ever that Govt of India has extended Capital Grant to a Natural Gas pipeline project.

 

The 2,539 km long JHBDPL is expected to be completed by December 2020 and will connect UP, Bihar, Jharkhand, West Bengal and Odisha. The project will also see City Gas Distribution (CGD) networks being set up by GAIL in 7 important towns in eastern India, namely, Varanasi, Patna, Ranchi, Jamshedpur, Kolkata, Bhubaneshwar and Cuttack. The JHBDPL gas pipeline will be used for gas supply to 3 fertilizer plants in eastern India, namely Barauni, Sindri and Gorakhpur.

 

The Dhamra LNG Terminal project and JHBDPL project, cumulatively, are expected to bring investments to the tune of Rs 51,000 Cr into the economy of eastern India. Of this, about Rs. 13,000 Crores will be spent on JHBDPL pipeline infrastructure; Rs. 6,000 Crores on CGD projects in 7 cities; Rs. 6,000 Crores on Dhamra LNG Terminal and Rs. 26,000 Crores on revival of Gorakhpur, Barauni, Sindri & Talcher fertilizer units.

Register or log in to assess the record