GAIL (India) Ltd. and China Gas Holdings Ltd. will form a joint venture to pursue gas sector business opportunities in India, China and other countries, a GAIL statement said on Tuesday.
Both companies will have equal equity participation in the proposed company, which will initially focus on city gas distribution and coal seam gas projects.
GAIL's expertise in the midstream and downstream gas sector and China Gas' track record in securing contracts and rapid expansion shall be leveraged to make the joint venture successful.
In May 2005, state-run GAIL made a strategic investment in China Gas, acquiring a 7 percent interest
(Source: Business Line)
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment