Gujarat State Petronet (GSPL) led consortium IOCL, BPCL and HPCL have executed the joint venture agreements (JVA) on April 30, 2012 for developing the three cross country natural gas transmission pipelines. With the signing of JVAs, equity tie-up for the three pipeline projects is complete.
Earlier, GSPL with 52% stake led consortium with Indian Oil Corporation (IOCL) with 26% stake, Bharat Petroleum Corporation (BPCL) with 11% stake and Hindustan Petroleum Corporation (HPCL) with 11% stake as other consortium partners had been awarded the letters of authorization dated July 07, 2011 by Petroleum and Natural Gas Regulatory Board for developing following three cross country natural gas transmission pipelines - Mallavaram - Bhilwara pipeline 1585 Kms, Mehsana - Bhatinda pipeline 1670 Kms and Bhatinda-Jammu-Srinagar pipeline 740 Kms.
Gujarat State Petronet is a subsidiary Gujarat State Petroleum Corporation (GSPC). It has taken initiative in developing energy transportation infrastructure in Gujarat and connecting major natural gas supply sources and demand markets.
