GAIL looks for next director finance

Vol 17, PW 19 (08 May 14) News in Brief

On April 22, the PESB advertised the post of GAIL director finance to replace PK Jain who took charge on March 1, 2011 and will retire on April 30 next year.

Interested candidates must send in CVs by June 30. A GAIL manager says it’s too early to name a frontrunner, but eligible candidates could include GAIL company secretary NK Nagpal and three general managers: RC Gupta in the project finance department in Delhi; AC Pandey in the finance department at GAIL’s petrochemical factory at Pata in Uttar Pradesh and AK Sahni in the pricing department in Delhi.

“We’ve lined up investments over Rs30,000cr ($5bn) for our ongoing projects,” says our company source. GAIL plans to double the capacity of the Pata petrochemical factory from 4.5m t/y to 9m t/y by the next fiscal, investing Rs8500cr ($1.2bn).

“We must also finance our entry into the LNG shipping, wind and solar power generation businesses and international acquisitions,” we hear.

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