GAIL (India) Ltd. (532155.BY) and the government of Andhra Pradesh state Tuesday signed an initial pact with French power company GDF Suez SA (>> GDF SUEZ) to build a floating terminal for liquefied natural gas in the country.
Andhra Pradesh Gas Distribution Corp., a company owned jointly owned by GAIL Gas Ltd.--a wholly-owned unit of GAIL--and Andhra Pradesh Gas Infrastructure Corp. signed the pact, the companies said in a joint statement.
The companies aim to commission the terminal by the end of December 2013.
-By Rakesh Sharma, Dow Jones Newswires; +91-11-4356-3305; email@example.com
Stocks mentioned in the article : GDF SUEZ