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New Delhi, Feb. 2

GAIL (India) Ltd and Indian Farmers Fertiliser Cooperative Ltd (IFFCO) have recently signed a memorandum of understanding (MoU) for co-operation in natural gas sector related opportunities in India. Under this agreement, both the companies would jointly evaluate the potential of setting up of a gas-based power plant and other industries, including chemicals, fertilisers, compressed natural gas (CNG) and piped natural gas (PNG), according to a statement issued by GAIL. The two will also explore the possibility of sourcing of natural gas/LNG for the identified projects, it said. The feasibility study for identified projects would be carried out by GAIL and IFFCO jointly, the statement said, adding that “subsequently, based on the techno-economics of the project, a joint venture company between GAIL and IFFCO would be formed for implementing the projects”.

The agreement was signed by Mr A.K. Purwaha, Director (Business Development), GAIL, and Mr V. K. Bali, Director (Technical), IFFCO.

— Our Bureau

More Stories on : Alliances & Joint Ventures | Petroleum | Fertilisers | GAIL (India) Ltd

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