GAIL (India) Limited has received the coveted ICSI National Award for Excellence in Corporate Governance.
Mr B C. Tripathi, Chairman and Managing Director of GAIL (India) Limited received this award on behalf of GAIL from Mr E S L Narasimhan, Governor of Andhra Pradesh in presence of Dr. M Veerappa Moily, Union Minister for Corporate Affairs at a function here organised by the Institute of Company Secretaries of India for the 11th ICSI Award for Excellence in Corporate Governance 2011.
Transmission capacity
GAIL has a capacity to transport 175 mmscmd of natural gas through its Transmission Network. With a market share of 72 per cent of the country’s gas transmission, it plans to double up the existing transportation capacity in the next two to three years.
Having started as a gas transmission company during the mid eighties, it has grown organically over the years by building large network of natural gas trunk pipelines covering a length of 9000 km. GAIL is constructing 5000 km of additional pipeline network by 2014-15.
Transparency
It has institutionalised several processes to bring transparency. It has become an e-enabled company where all processes are conducted through electronic mode. These include e-tendering, e-banking, e-Performance Management System, e-Budgeting System and e-Document Management System.
The country’s flagship gas public sector enterprise started as a single project company 27 years back. It has grown to a turnover of Rs 32,500 crore and PAT of Rs 3561 crore. Over the years, GAIL has transformed into an integrated energy company with global footprints.
The company is in the process of commissioning a re-gas terminal at Dabhol (west coast of India) for 5 mmtpa.