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IOCL, GAIL sign MoU for taking equity stake in Dhamra LNG terminal

IOCL, GAIL sign MoU for taking equity stake in Dhamra LNG terminal
23 September 2016 Current Affairs: Indian Oil Corporation Limited (IOCL) and GAIL (India) Limited has signed a Memorandum of Understanding (MoU) with Dhamra LNG Terminal Private Limited (DLTPL) for taking equity in the 5 MMTPA capacity LNG Receiving on 21 September 2016, Storage and Regasification Terminal.

The Dhamra LNG terminal is being built by Adani Enterprises Ltd at Dhamra Port, Odisha.

Highlights of the MoU : As per the MoU, DLTPL shall be an equal Joint Venture of Indian Oil and GAIL on one hand and Adani Group on the other.  Indian Oil and GAIL will acquire 39 percent and 11 percent equity respectively in DLTPL, with the balance 50 percent stake being held by Adani group.  

Indian Oil and Adani group will each divest 1 percent of their respective stake to a credible financial institution which will then have 2 percent stake in the terminal. 

Apart from equity, Indian Oil and GAIL intend to book regasification capacity of 3.0 and 1.5 MMTPA respectively in the terminal.


March 2017 Current affairs
27 MAR
NEWS
25 MAR
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24 MAR
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23 MAR
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22 MAR
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February 2017 Current affairs
28 FEB
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27 FEB
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25 FEB
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24 FEB
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23 FEB
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January 2017 Current affairs
31 JAN
NEWS
30 JAN
NEWS
28 JAN
NEWS
27 JAN
NEWS
25 JAN
NEWS
24 JAN
NEWS

December 2016 Current affairs
31 DEC
NEWS
30 DEC
NEWS
29 DEC
NEWS
28 DEC
NEWS
27 DEC
NEWS
26 DEC
NEWS

November 2016 Current affairs
30 NOV
NEWS
29 NOV
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28 NOV
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26 NOV
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25 NOV
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24 NOV
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