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Our Bureau

New Delhi , Aug. 31

GAIL (India) Ltd has received an offer from China Gas Holdings Ltd (CGHL) for participation in a gas-based petrochemical project, which is to be established in Humor, Inner Mongolia. According to a company release, the feasibility study of the project has been prepared.

GAIL entered into Chinese gas market by taking equity participation in CGHL, a company which holds concession rights for setting and operating compressed natural gas and city gas distribution projects in 48 provinces in China.

According to GAIL, the offer follows the discussions its Chairman and Managing Director, Mr Proshanto Banerjee, had with Chinese company on the business opportunities in gas sector.

In pact with EIL: GAIL (India) Ltd and Engineers India Ltd (EIL) have signed a memorandum of cooperation for pursuing natural gas business overseas. According to GAIL release, the memorandum will enable both the companies to bid jointly for overseas projects.

While GAIL will be responsible for project management and financing, EIL will take care of engineering and procurement issues.

Further, both the companies will propose suitable sub-contractors for construction, the release said.

GAIL is making efforts to participate in overseas natural gas transportation and gas processing projects through joint venture or consortium route.

EIL has been providing consultancy services in oil and gas projects and has presence in countries of West Asia and North Africa.

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