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GAIL India to reduce equity stake in ONGC’s project at Dahej to 11.6%

16 Jun 2014 Evaluate

GAIL India is planning to reduce its equity stake in Oil and Natural Gas Corporation’s (ONGC) mega petrochem project at Dahej to 11.6% as project faces major cost swarming. GAIL had in 2008-09 picked up 19% stake in ONGC Petro-additions (OPaL), which is building a mega petrochemical complex at Dahej in Gujarat.

The 1.1 million tonnes plant was at that time estimated to cost Rs 12,440 crore. But since then the project cost has been revised thrice upwards - first to 15,870 crore in end 2008, then to Rs 19,535 crore in June 2010 and now to Rs 21,396 crore.

GAIL is India's flagship natural gas company integrating all aspects of the natural gas value chain including exploration and production, processing, transmission, distribution and marketing and related services.

GAIL India Share Price

166.50 -0.95 (-0.57%)
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Company Name CMP
GAIL India 166.50
Gujarat Gas 396.55
Indraprastha Gas 166.25
Mahanagar Gas 1171.95
Adani Total Gas 633.70
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