Indian Oil Corporation (IOC) is in talks to buy stake of debt- laden Gujarat State Petroleum Corporation (GSPC) in the under- construction Rs4,500 crore liquefied natural gas (LNG) import terminal at Mundra in Gujarat. The LNG terminal, which has capacity of five million tonnes per annum terminal, is scheduled for completion by 2017. GSPC is looking at exiting the project and has offered 50 percent stake to IOC. The Adani group holds 25 percent stake in the LNG terminal project.
Copyright (c) 2016 . Informatics India Ltd., source Indian Business Insight