"GAIL has received an offer from China Gas Holdings for participation in a gas-based petrochemical project, which is to be established in Humor, Inner Mongolia," Proshanto Banerjee, chairman and managing director of GAIL, said today.
GAIL already holds 10% equity in China Gas Holdings.
GAIL has also signed a memorandum of cooperation (MoC) with Engineers India (EIL) to jointly bid for overseas projects.
According to a release issued by GAIL to the BSE today, "While the company will be responsible for project management and financing, EIL will be responsible for engineering and procurement."
