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GAIL India plans to invest in startups to provide opportunities to entrepreneurs

BNE News Desk , July 7, 2022
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Guwahati: State-owned gas major GAIL India Limited plans to invest in start-ups operating in identified focus areas such as natural gas, petrochemicals, energy, and electric mobility through its startup initiative "Pankh".

"GAIL has now launched a new round for soliciting investment proposals from start-ups operating in focus areas that primarily include Natural Gas, Petrochemicals, Energy, Project Management, Logistics, Electric Mobility, Bio Manure Marketing, Nano Materials, IoT and Data Mining, Environment, Health and Social, and so on," the company said in a regulatory filing on Wednesday.

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Start-ups interested in GAIL's equity investment can apply through the link 'GAIL Pankh' on the GAIL website. The current Solicitation Round will be open until July 31, according to the company.

GAIL announced earlier this month, in a first-of-its-kind venture in the country, plans to enter into distributed Liquefied Natural Gas (LNG) production in order to meet demand from off-grid locations and the transportation sector.

The company announced the purchase of two small-scale liquefaction skids capable of producing LNG on a trial basis.

It also stated that liquefaction will be accomplished using proprietary technology-based mobile liquefaction skids.

"These plants will aid in natural gas distribution by liquefying gas in new CGD (City Gas Distribution) areas, liquefying gas in isolated fields, and assisting in the establishment of LNG fueling stations and bunkering," the company said. The portable and scalable liquefaction units will be the first of their kind in the country, according to the state-owned natural gas producer.