The Hindu Business Line : GAIL strikes jt venture deal with Syrian co

GAIL (India) Ltd has qualified to set up a joint venture company with Syrian Company for Distribution of Gaz for city gas distribution projects in Syria.

The company has qualified to move into the next round of bidding from among the 23 companies that had participated in the bidding process. GAIL will be "submitting aggressive technical and commercial bids shortly."

According to a company communiqué, in the first stage, GAIL will be assisting the Syrian company in setting up three to five compressed natural gas (CNG) stations in Damascus and its suburbs. At a later stage, the project will be expanded to other large cities of Syria.

In addition, the scope of work of the joint enterprise to be established with the Syrian company includes pipeline network for supply of gas of the proposed CNG stations from the existing transmission system, workshops to convert vehicles to CNG fuel mode and pipeline network for supply of gas to residential customers in various Syrian governorates.

Commenting on the development, Mr Proshanto Banerjee, Chairman and Managing Director, GAIL, said: "We view this opportunity to be in line with our core competence."

The Ministry of Petroleum and Mineral Resources, Syria, had invited offers from companies interested in establishing a joint enterprise with Syrian Company for Distribution of Gaz and National Gas Company of Syria for the purpose of using CNG in vehicles.

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