Gail's assets up 20% after DPC transfer

Gail (India) ltd today said its asset base has increased by 20% to Rs 17,500 crore following the Bombay High Court order to transfer the
assets of erstwhile Dabhol Power Company (DPC) to Ratnagiri Gas and Power, the joint venture firm promoted by the company and
National Thermal Power Corporation (NTPC).

"With this transfer, the asset base of Gail, including the pro-rata share of all the joint ventures, subsidiaries and associates where Gail has equity participation, has increased by around 20% from Rs 14,700 crore to Rs 17,500 crore," Gail said in a release today.

The Bombay High Court, on October 1, 2005 has passed an order paving the way for the transfer of assets of DPC to Ratnagiri Power.