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China Gas offers GAIL stake in Mongolian project

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Press Trust of India New Delhi
 "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."

 

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First Published: Aug 31 2005 | 6:04 PM IST

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