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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.

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