INSUBCONTINENT EXCLUSIVE:
GAIL India will acquire IL-FS's 26 per cent stake in ONGC Tripura Power CompanyThe National Company Law Tribunal (NCLT) approved
state-owned gas utility GAIL India's acquisition of Infrastructure Leasing and Financial Services' 26 per cent stake in ONGC Tripura Power
Company (OTPC), according to a regulatory filing by GAIL to the stock exchanges.OTPC is a special purpose vehicle between Oil and Natural
to the northeastern states
Financial Services Ltd (IFIN)
project was set up to use locally produced natural gas which was otherwise economically unviable to transport gas
It is considered to be the single largest investment in the region.The gas to the Tripura project is supplied by ONGC's 55 km pipeline
GAIL is focusing on building a clean energy portfolio and the acquisition is a part of the plan.On Thursday, November 4, shares of GAIL
India settled 0.70 per cent higher at Rs 151.50 apiece on the BSE.
