GSP to foray in ceramics & textiles thru equity route
21 Jan '06
1 min read
Natural gas transmission network major Gujarat State Petronet (GSP), plans diversification through foray in ceramics, textiles and chemicals.
GSP is financing its expansion with a public issue of 13.8 crore equity shares of Rs 10 each, which opens from January 24, 2006.
D J Pandian, Managing Director of the company said, chemical plant contracts were valued at 4.8 percent of operating profits (Rs 131 crore).
Power generation plants recorded almost 56 percent of operating profits, whereas fertilisers and steel plants contributed about 13 percent each.
Ceramics and textiles are the new areas planned to increase by 30 percent.
GSP is increasing its market presence by constructing 742 kilometre length of gas transmission pipelines and spur lines. The company plans to finance its expansion through capital market.
The largest customer of GSP is Gujarat Paguthan Energy Corporation (GPEC) contributing to the tune of almost 30 percent to its revenue.
GSP's gas transmission agreement with GPEC expires in September 2007.
marketing@alchempro.com
