Industry & Economy
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Petroleum
Pipeline project: GAIL floats tenders for legal, technical advisors
Our Bureau
New Delhi
,
Sept 2
CLOSE on the heels of Ernst & Young (E&Y) being nominated as the financial advisor for the Iran-Pakistan-India pipeline project, global tenders have been floated for appointment of both technical and legal advisors.
GAIL (India) Ltd has floated global tenders for appointment of both technical and legal advisors for the pipeline project on Thursday.
While Indian Oil Corporation (IOC) was mandated to make an offer for the appointment of a financial advisor for the project, GAIL has been asked to tender for appointing technical and legal advisors.
The financial advisor shall lead the consortium of the advisors and act as the lead advisor. According to a GAIL release, Mr Soli Sorabjee, Former Attorney General of India, has given his consent to be a part of the high-level team, which will appoint the legal advisor for the project.
At a pre-tendering conference four global consultants, Tractebel Engineering, Worley Australia, PLE and JP Kenny evinced interest in bidding for the job of the technical advisor, GAIL said.
The main area of focus for the technical advisor is to recommend the route, safety and security aspects, optimum cost of the project, transportation tariff and technical specifications of the pipelines.
The legal advisor will help in drafting and negotiating various inter-state and state level agreements.
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