Financial Daily from THE HINDU group of publications
Monday, Dec 19, 2005
Financial Daily from THE HINDU group of publications Monday, Dec 19, 2005 |
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Corporate
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Alliances & Joint Ventures GAIL plans projects worth Rs 15,000 cr in Orissa Our Bureau
New Delhi , Dec. 18 GAIL (India) Ltd today said that it has planned significant business ventures in Orissa, which would involve a total investment of Rs 15,000 crore. According to a statement, GAIL and the State Government would soon finalise a comprehensive "Energy Cooperation Agreement". GAIL, which is actively pursuing surface coal gasification opportunities, has identified Talcher as a suitable location in Orissa. The project implementation will involve an estimated investment of about Rs 2,000 crore, the company release said. The Orissa Government, according to GAIL, has expressed keen interest to involve it in a grass-root power plant in the State involving investment of Rs 4,000 crore. GAIL has also indicated that it would be interested in being a partner for fuel supply , the statement said. The company has carried out detailed market studies for natural gas in Orissa and has completed a detailed feasibility report for a high pressure 1,140-km trunk pipeline between Kakinada and Haldia, which would cover Balasore, Bhadark, J.K. Road, Cuttack, Khurda, Janzam (Behrampur) in Orissa. According to the company, the pipeline will be implemented in synchronisation with gas supplies and will involve investment to the tune of Rs 4,000 crore. The gas pipeline would also pave the way for city gas distribution projects in the State by bringing compressed natural gas and piped natural gas to cities and towns in Orissa. The State Government has shown preference for Cuttack and Bhubaneswar, the statement said. The proposals were discussed at a meeting between the Orissa Chief Minister, Mr Naveen Patnaik, and the GAIL Chairman and Managing Director, Mr Proshanto Banerjee, held in Bhubaneswar on Friday. At the meeting, the two also discussed a proposal to set up a mega petrochemicals complex, with an investment of Rs 5,000 crore in the State.
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