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GSPL led consortium secures LOA from PNGRB

09 Jul 2011 Evaluate

Gujarat State Petronet (GSPL) led consortium has been awarded the Letters of Authorization (LOA) dated July 07, 2011 by Petroleum and Natural Gas Regulatory Board (PNGRB) for developing three cross country natural gas transmission pipelines, namely - Mallavaram - Bhilwara (1585 kms) pipeline, Mehsana - Bhatinda (1670 kms) pipeline and Bhatinda-Jammu-Srinagar (740 Kms) pipeline.

The route map of these three natural gas transmission pipelines cover the states like Andhra Pradesh, Madhya Pradesh, Maharashtra, Haryana, Punjab, Rajasthan and Jammu on its network for transmission of gas to various districts and area of these states of India. The total investment in the project shall he approx Rs 12,500 crore and the said three projects shall be required to be completed within a period of 36 months from the date of award of the letter of authorization to GSPL led consortium.

Earlier, GSPL (with 52% stake) in consortium with IOCL (26%), BPCL (11%) and HPCL (11%) had participated in the aforesaid three bids where in the bid submitted by the said consortium has emerged as the most favorable bid in all the three pipeline projects.

Gujarat State Petronet is a subsidiary Gujarat State Petroleum Corporation (GSPC). It has the taken initiative in developing energy transportation infrastructure in Gujarat and connecting major natural gas supply sources and demand markets. The Company has posted a net profit of Rs 150.63 crore for the quarter ended March 31, 2011 as compared to Rs 107.86 crore for the quarter ended March 31, 2010, up 40%. Its total income has decreased from Rs 269.96 crore for the quarter ended March 31, 2010 to Rs 264.82 crore for the quarter ended March 31, 2011.

Guj. State Petronet Share Price

268.95 -19.75 (-6.84%)
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