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The Oil Ministry has put on hold a plan to bifurcate state-owned gas utility GAIL (India) Ltd so as not to dilute the firm s ability to finance the massive infrastructure building plan, a top official said on Thursday.
GAIL is India s biggest natural gas marketing and trading firm and owns 60 per cent of the country s 26,284-km gas pipeline network, giving it a stranglehold on the market. To resolve the issue, it was proposed that GAIL s pipeline business should be hived off into a separate entity. GAIL has massive plans to double its pipeline network to 34,000-km and there is a realisation that its ability to borrow funds to fund these should not be hampered, the ministry official involved in the decision-making process said.
GAIL bifurcation plan put on hold; company to monetise pipelines through InvIT
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AAA The Oil Ministry has put on hold a plan to bifurcate state-owned gas utility GAIL (India) Ltd so as not to dilute the firm s ability to finance the massive infrastructure building plan, a top official said on Thursday.
GAIL is India s biggest natural gas marketing and trading firm and owns 60 %of the country s 26,284-km gas pipeline network, giving it a stranglehold on the market.
To resolve the issue, it was proposed that GAIL s pipeline business should be hived off into a separate entity.
IOC to monetise pipeline assets, says many investors interested
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IOC to monetise pipeline assets, says many investors interested
PTI / Feb 2, 2021, 14:17 IST
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NEW DELHI: State-owned Indian Oil Corporation (IOC) is likely to sell stakes in one or two of its vast network of crude oil and petroleum product pipelines in the country under the asset-monetisation plan, but won t give up control, its director (finance) Sandeep Kumar Gupta said Tuesday. InvIT could be one model which we may look at but we won t sell 100 per cent. We will remain the operator, he said on a conference call with analysts and investors.
Indian Oil to monetise pipeline assets, says many investors interested
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Last Updated: Feb 02, 2021, 02:34 PM IST
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Synopsis
Finance Minister Nirmala Sitharaman in her Budget for fiscal year beginning April 1, announced monetisation of oil and gas pipeline assets of IOC, gas utility GAIL (India) Ltd and Hindustan Petroleum Corporation Ltd (HPCL).
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IOC also owns two natural gas pipelines - 132-km Dadri-Panipat and 1,421 km Ennore-Tuticorin line, and two LPG lines - 280-km Panipat-Jalandhar and 873-km Paradip-Haldia-Durgapur.
IOC) is likely to sell stakes in one or two of its vast network of crude oil and petroleum product pipelines in the country under the asset-monetization plan, but won t give up control, its Director (Finance) Sandeep Kumar Gupta said Tuesday. InvIT could be one model which we may look at but we won t sell 100 per cent. We will remain the operator, he said on a conference call with analysts and investors.