Ioc, Gail Pact

Indian Oil Corp (IOC) and Gas Authority of India (GAIL) have signed a MoU for transfer of LPG through GAILs pipeline from Jamnagar to Loni near New Delhi. GAIL will make all investments in the pipeline while IOC will arrange for the LPG storage and handling facilities. The MOU was signed by M A Pathan, chairman, IOC and C R Prasad, chairman and MD GAIL on Tuesday. The total capacity of the pipeline will be 2.5 million tpa but an initial capacity of 1.7 mn tpa will be available by April 2001.