GAIL in talks for JV with Tokyo Gas | business | Hindustan Times
Today in New Delhi, India
Jul 28, 2017-Friday
-°C
New Delhi
  • Humidity
    -
  • Wind
    -

GAIL in talks for JV with Tokyo Gas

The $18-billion (Rs. 90,000 crore) Japanese gas major, Tokyo Gas, and state-owned GAIL (India) Ltd are in advanced talks to form a joint venture company to lay the pipeline infrastructure and for supplying gas to the industrial hub and clusters coming up as part of the multi-billion dollar Delhi Mumbai Industrial Corridor (DMIC) project. Anupama Airy reports. Corridor of action

business Updated: Apr 22, 2012 22:30 IST
Anupama Airy

The $18-billion (Rs. 90,000 crore) Japanese gas major, Tokyo Gas, and state-owned GAIL (India) Ltd are in advanced talks to form a joint venture company to lay the pipeline infrastructure and for supplying gas to the industrial hub and clusters coming up as part of the multi-billion dollar Delhi Mumbai Industrial Corridor (DMIC) project.

Confirming the move, GAIL chairman and managing director BC Tripathi said, "We expect to co-operate in setting up the pipeline infrastructure for gas supplies to these industrial hubs in the DMIC."

Tokyo Gas is the largest city gas distribution company in Japan with a pipeline network extending over 50,000 km.

http://www.hindustantimes.com/Images/Popup/2012/4/23_04_biz4.jpg

As reported first in Hindustan Times, GAIL plans to invest over Rs. 20,000 crore in setting up gas-based power projects along with associated infrastructure facilities in the corridor.

GAIL is also planning to set up gas-based power projects jointly with the Delhi-Mumbai Industrial Corridor Development Corporation (DMICDC), the agency developing this corridor.

DMICDC has planned six gas-based power projects of 1,000 MW each for supplying electricity in DMIC region. "We can do a few of these power projects jointly with DMICDC besides supporting it in sourcing and supplying of natural gas for all the power projects," said a senior GAIL official.

"Also, GAIL is talking to Tokyo Gas to form a joint venture company for the city gas distribution and CNG network along the proposed development nodes in DMIC," the official said.