IGL outlays capex for expansion

New Delhi: Indraprastha Gas (IGL) a joint venture of Gail (India), Bharat Petroleum Corporation (BPCL) and Delhi Government.

It will invest Rs 2,000 crore in the next three years for expanding its operations. IGL supplies piped natural gas (PNG) to about 1.75 lakh households in Delhi and national capital region.

It will invest Rs 1,000-1,100 crore in expanding the PNG network. IGL will add another 55 CNG pumps. Presently, it has a network of 191 retail stations in NCR.

The proposed expansion of CNG Pumps will cost Rs 600-800 crore. In addition, it will open 18 new fuel stations in Ghaziabad and five in Noida in 2010-11.

The funds for the investment will come from internal accruals and rest will be raised through debt from domestic market.