GAIL to Build Network of Battery Charging Stations for Electric Vehicles, Also plans to Diversify into Future Ready Businesses
GAIL India, the country’s largest gas transportation and marketing company, plans to set up battery charging stations for electric vehicles as well as build solar plants as it looks to be “future ready” for emerging businesses, a senior company official said.
It also wants to explore the business opportunity in waste-water treatment plants, water distribution, large water pipeline laying as an early mover.
“We have the country’s biggest network of pipelines and gas marketing infrastructure. We want to leverage for emerging business opportunities,” he said. “We want to be future ready.”
It is looking at possibilities of setting up battery charging stations for e-vehicles at CNG dispensing stations in a bid to diversify its portfolio beyond gas and petrochemicals.
“It is all at drawing board stage. A lot will depend on norms. For example, we don’t know if rules permit a battery charging facility at a petrol pump or a CNG station. We don’t know at what price we can sell that battery charge,” he said.
GAIL wants to insert six new sections in the main objects clause of the memorandum of association of the company to foray into new business.
According to a shareholder notice, it wants to invest in “start-ups in core business areas (of natural gas, petrochemicals, and energy) and non-core areas (like health, social and environment, safety, and security) either directly or indirectly.”
“The investment can be made through special purpose vehicle (SPV), alternative investment fund (AIF), fund of funds (FoF) and trust,” it said.
The official said there is a necessity to adopt new and different pathways to provide clean, cost-effective and efficient mobility services that are safe, reduce dependence on oil imports and achieve more efficient land-use in cities with the least environmental footprints and impacts on human health.