Hon’ble Prime Minister dedicates to the Nation Phase 1 of ‘Pradhan Mantri Urja Ganga’ Patna City Gas Distribution network also inaugurated
Barauni (Bihar), February 17, 2019: Hon’ble Prime Minister Shri Narendra Modi today dedicated to the Nation the first phase of the Jagdishpur – Haldia & Bokaro – Dhamra Natural Gas Pipeline Project (JHBDPL), popularly known as ‘Pradhan Mantri Urja Ganga’, and inaugurated the City Gas Distribution (CGD) network in Patna.
The Hon’ble Prime Minister dedicated and inaugurated the projects in the presence of Hon’ble Governor of Bihar Shri Lalji Tandon, Hon’ble Chief Minister of Bihar Shri Nitish Kumar, Hon’ble Union Minister of Consumer Affairs, Food and Public Distribution Shri Ram Vilas Paswan, Hon’ble Union Minister of Law & Justice and Electronics & Information Technology Shri Ravi Shankar Prasad, Hon’ble Union Minister of State (I/C), Micro, Small and Medium Enterprises Shri Giriraj Singh, Hon’ble Minister of State (I/C), Power and New and Renewable Energy Shri R K Singh, Hon’ble Union Minister of State, Rural Development Shri Ram Kripal Yadav, Hon’ble Union Minister of State, Health & Family Welfare Shri Ashwini Kumar Choubey, Hon’ble Deputy Chief Minister of Bihar Shri Sushil Kumar Modi and other dignitaries.
The foundation stone of Phase 1 of ‘Pradhan Mantri Urja Ganga’ had been laid by the Hon’ble Prime Minister on July 25, 2015 in Patna and the section from Phulpur - Dobhi – Barauni with Spurlines to Patna & Varanasi of length 585 Km has been completed. This section passes covers nine districts in Bihar (415 km) and three districts in Uttar Pradesh (170 km). The districts covered in Bihar are Patna, Kaimur, Rohtas, Aurangabad, Gaya, Nalanda, Lakhisarai, Begusarai and Sheikhupura.
The total length of JHBDPL pipeline is 2,655 km and covers Uttar Pradesh, Bihar, Jharkhand, Odisha and West Bengal and being further extended from Barauni to Guwahati (Assam) through 729 km pipeline. The project is being executed at an investment of Rs. 12,940 crores, which includes 40% capital grant (i.e. Rs. 5,176 crores) from the Government of India and the project is scheduled to be completed by 2020 in phases. Total investment in Bihar is Rs 2,300 crores.
The natural gas pipeline will be crucial in reviving fertilizer units in Barauni, Sindri and Gorakhpur and also supply natural gas for houses and vehicles in Patna, Patna, Varanasi, Ranchi, Jamshedpur, Bhubaneswar, Cuttack, Kolkata and other cities enroute the pipeline. The availability of environment friendly, convenient and economical natural gas will also help in reducing pollution levels. The project execution is expected to generate direct and indirect employment for thousands.
The Hon’ble Prime Minister also inaugurated the CGD network in Patna under which piped natural gas (PNG) will be supplied to domestic customers and commercial establishments like hotels, restaurants, industries, etc. while compressed natural gas (CNG) will be supplied for the transport sector through CNG stations.
Infrastructure has already been created for about 5,000 PNG households and initially, PNG supply will be started to staff quarters in BIT Mesra, Patna Campus near Airport and two student hostels in the campus. Two CNG stations (one near Rukunpura, Beli Road and another near Patna Toll NH1, Bypass Road) were also started.
GAIL has been authorized to lay CGD networks in major cities such as Patna, Varanasi, Ranchi, Jamshedpur, Bhubaneswar and Cuttack in synchronization with the ‘Pradhan Mantri Urja Ganga’ project which the company is executing.
The Patna CGD project is being executed with a planned expenditure of Rs. 360 crore over the next five years and overall Rs 1200 crore over 25 years.
GAIL’s PAT for Q3 FY19 Rs. 1,681 crore, up by 33% on Year-on-Year basis PBT Rs. 2,507 crore up by 35%; Gross Margin Rs. 2,894 crore up by 27%
New Delhi, February 05, 2019: GAIL (India) Limited registered a 33% increase in Profit after Tax (PAT) in the third quarter of Financial Year 2018-19, as against the corresponding quarter in last fiscal mainly due to better performance by Natural Gas (NG) Marketing, NG Transmission, Liquid Hydrocarbon (LHC) and LPG Transmission Segments. The Company’s PAT for the quarter ending 31st December 2018 rose to Rs. 1,681 crore from Rs. 1,262 crore in the corresponding quarter of the last fiscal. GAIL’s Profit before Tax (PBT) for the third quarter increased by 35% to Rs. 2,507 crore against Rs. 1,858 crore in the corresponding quarter of the last fiscal.
The increase in net profit in Q3 FY 2018-19 on year on year basis, was supported by increase in Natural Gas Marketing volumes by 9%, LPG Transmission volumes by 11% and Liquid Hydrocarbon Sales by 5%. On nine months basis, GAIL’s PAT is Rs. 4,903 crore, signifying an increase by 36% against corresponding period of FY 2017-18.
Shri B C Tripathi, Chairman & Managing Director, GAIL said that in the third quarter, the LHC Segments performed remarkably better than the last quarter due to better margin in the segment. However the margins in Natural Gas Trading and Petrochemical segments were under pressure in the quarter. Further on nine month basis, the PAT of the Company has already surpassed the yearly PAT of the last fiscal supported by better physical performance in all the business segments.
Shri Tripathi, informed that GAIL’s petrochemical unit at Pata has scripted history by being the first in India to produce the value added Metellocene film grade. Country-wide sales have commenced to quality conscious customers after successful field trials. This move of GAIL would not just provide domestic consumers of a reliable and indigenous supply source but shall help potential forex savings of over USD 100 million annually for India, as per initial estimates.
He said GAIL is expected to achieve Capital expenditure outlay of around Rs. 7,000 crore during 2018-19 which is more than 70% increase from last year. The first phase of prestigious Pradhan Mantri Urja Ganga project will be completed by the end of this month.
The Company had also declared an interim dividend of Rs 6.25 per equity share (face value of Rs. 10 each) for the financial year FY 2018-19.