GAIL (INDIA) LTD. - Gail (India) Ltd reply to clarification sought by the exchange
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| 05 Mar 2015 | |
| The Exchange had sought clarification from Gail (India) Ltd with respect to news article appearing in Financial Chronicle on March 04, 2015 titled "GAIL drops plan to set up Odisha LNG terminal"<BR><BR>Gail (India) Ltd replied stating "We would like to clarify that in October 2013, GAIL had signed MoU with Paradip Port Trust for setting up an FSRU Project within the port limits of Paradip Port. GAIL has also assessed technical feasibility of the FSRU Project at Paradip. Thereafter, GAIL initiated the process of selecting a Strategic Partner by inviting 'Expression of Interest' (EOI) from interested parties for becoming a Strategic Partner in GAIL's FSRU Project at Paradip Port, Odisha.<BR><BR>GAIL has decided to undertake an evaluation of various opportunities in the setting up LNG importation facilities in Odisha and has accordingly, withdrawn the EOI process. However, GAIL continues to remain interested in participating in LNG importation project along the coast of Odisha and would be working towards that end." | |
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