WSJ:Indraprastha Gas Likely to Raise Piped-Gas, CNG Prices
Mumbai -- Indraprastha Gas Ltd. is likely to raise the prices of piped natural gas and compressed natural gas due to a rise in global prices, Managing Director Rajesh Vedvyas said Friday.
Mr. Vedvyas said the company uses gas sourced locally at the price determined by the government and imported liquefied natural gas, with imported gas accounting for about 10-15% of the total.
The cost of the imported gas keep on changing, and "there is a need to adjust the price," he told reporters.
The company plans to invest 5 billion rupees ($103.8 million)-6 billion rupees to build gas distribution infrastructure and is looking to raise 2.5 billion rupees in the current fiscal year that ends March 31 to part fund the capex programme.
It raised 3.5 billion rupees in the last fiscal year.
