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IOC to pick 38% stake in Rs 5,000 crore Dhamra LNG project in Odisha

21 Sep 2016 Evaluate

Indian Oil Corporation (IOC) and GAIL (India) will exercise their right to jointly acquire 49% stake in Adani Group’s Rs 5,000 crore Dhamra LNG project in Odisha. While, IOC will take a 38% stake, GAIL will pick up 11% stake in the proposed 5 million tonne per annum liquefied natural gas import terminal in Dharma, being set up by Adani Petroleum Terminal (APTPL). APTPL will also hold a 49% stake in the project and remaining 2% will be held by financial institutions.

IOC is the largest enterprise in the country and the foremost ranked Fortune Global 500 Company in India and has presence in the complete hydrocarbon value chain from downstream refining & marketing, pipeline transportation, Petrochemicals, E&P and Gas Marketing.


Peers
Company Name CMP
Reliance Industries 1172.95
Indian Oil Corpn. 132.10
Bharat PetroleumCorp 301.15
HPCL 347.95
MRPL 165.25
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