| He said the overseas borrowing plan was deferred owing to a delay in the award of tender for the Uran-Dahej pipeline project in Gujarat. |
| "We had to do it (ECB) in December to take care of the cash flow for the Uran-Dahej pipeline. We hope to go to the market probably by March, Banerjee told reporters on the sidelines of a conference on gas conservation. |
| GAIL plans to borrow $100 million with a greenshoe option to retain an additional $50 million. |
| The company had scrapped the earlier tender for its Uran-Dahej pipeline in Gujarat, as it did not meet international competitive bidding standards. |
| "The re-tendering process has brought in a delay of one or two months," Banerjee said. |
| He said the company would bid for an operations and maintenance contract of a gas transmission pipeline from Syria to Lebanon. |
| A GAIL official had earlier said that a joint bid would be made with Egypt's National Gas Company for the 64-kilometre, 23-inch Syria-Lebanon pipeline contract, also called the GASYLE I. |
| The pipeline will transport natural gas from Syrian Petroleum Co's Baniyas plant in Syria to the Beddawi power plant in northern Lebanon. |
| "We have received clearance from the ministry of external affairs and we are going to bid for the contract by Friday. It will give us an opportunity to do business in Lebanon and we will be better placed in the region (West Asia)," Banerjee said. |
| He also said that a team from Russia's Gazprom would meet GAIL officials later this month to identify gas development projects in India and abroad. |
| The visit followed a pact signed between the two companies earlier this month for strategic cooperation in the hydrocarbon sector in India, Russia and other countries. They will explore both upstream and downstream activities. |
| The GAIL stock ended at Rs 241.25 on the National Stock Exchange, up 1 per cent over Monday. |
Top Section
Explore Business Standard