For taking equity stake in upcoming Dhamra LNG Terminal
Indian Oil Corporation and GAIL (India) have signed an MoU with Dhamra LNG Terminal (DLTPL) for taking equity in the 5 MMTPA capacity LNG Receiving, Storage and Regasification Terminal being put up at Dhamra Port, Odisha.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. IndianOil and GAIL would acquire 39% and 11% equity respectively in DLTPL with the balance 50% being held by Adani Group. Going forward, Indian Oil and Adani Group will each divest 1% of their respectively stake to a credible financial institution which will then have 2% 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.
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