GGCL DIVESTING LPG BUSINESS; BRITISH GAS TO UP STAKE BY 5%
Article Abstract:
Gujarat Gas Company Limited (GGCL) has decided to divest its liquefied petroleum gas business. British Gas (BG), which has 60 percent stake in GGCL, is likely to buy another 5 percent stake from the Mafatlals. BG has applied to the Securities Exchange Board of India (Sebi) for its approval of the acquisition of stake. In 1997-98, GGCL earned a net profit of Rs4.77 crore. Its sales increased by 25.54 percent to Rs143.69 crore. It has maintained its dividend at 40 percent. BG plans to make an investment of Rs800 crore between 1998 and 2003 in GGCL. (rk)
Comment:
Likely to buy another 5% stake in Gujarat Gas Comapny from the Mafatlals
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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PETRONET OFFERS EQUITY STAKE TO PRIVATE OIL COs
Article Abstract:
Petronet India Ltd, the holding company for all future product pipeline projects in India, has offered equity in its subsidiary companies to Reliance, Essar and the AV Birla group. Petronet will hold a 26 percent stake in each subsidiary while equity stakes of 26 percent each are to be given to the prime contractor and executor of the project and any other oil company. Reliance and Essar have been offered equity in the Jamnagar-Kandla pipeline project while the AV Birla group has been offered equity in the Mangalore-Hassan-Bangalore pipeline project. (khr)
Comment:
Has been offered equity in Petronet's subsidiary companies
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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IOC EYES STAKE IN RPL PIPELINE
Article Abstract:
Indian Oil Corporation (IOC) is planning to acquire a stake in the oil pipeline project of Reliance Petroleum Ltd (RPL). This will benefit the two companies in their joint venture for marketing decontrolled products like naphtha, furnace oil and LSHS. The 3000 km pipeline project, to run through seven states, will be developed by the IOC-RPL joint venture. The entire output of RPL is to be picked up by IOC or the joint venture between them and the joint development of the pipeline will help minimise distribution costs. (khr)
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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