GAIL to take part in Assam gas project

Jun 21, 2004 02:00 AM

GAIL has agreed in principle to participate in the Assam gas cracker project. GAIL CMD Prasanta Banerjee met Assam CM Tarun Gogoi to assure him of the company’s full cooperation in the gas cracker project.
Sources in the Assam government said GAIL may float a separate joint venture company with the state government for the project.

The CM’s office said that the modalities had not yet been worked out. The project, a part of the Assam accord, was supposed to be implemented by Reliance Assam Petrochemicals, a joint venture between the Assam government and Reliance. The Rs 3,700-crore project ran in to problems due to non-availability of raw materials and involvement of huge subsidies.
The state government spokesperson said GAIL has put forward certain conditions including sales tax exemptions for raw materials and finished products, excise exemptions, and the choice of a suitable location and work environment.

Source: Neftegaz.RU
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