RELIANCE TO BUY GUJARAT GAS LPG BOTTLING UNITS
Article Abstract:
Gujarat Gas is selling its liquefied petroleum gas (LPG) bottling units at Sanand and Lodhika in Gujarat to Reliance Industrial Infrastructure Ltd (RIIL). The units are being sold as going concern to RIIL. RIIL is offering Rs1.31 crore for the two units. The amount paid is net of liabilities. The gross consideration is around Rs8 crore to Rs10 crore. Gujarat Gas will be transferring 30,000 LPG customers to RIIL. The proposed sale is subject to the necessary approvals and to the due diligence process. JM Financial has structured the proposed deal. The two units have a total LPG capacity of 24,000 tonnes. (ag)(m)
Comment:
Gujarat Gas is selling its liquefied petroleum gas (LPG) bottling units at Sanand and Lodhika in Gujarat to Reliance Industrial Infrastructure Ltd (RIIL).
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1999
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GOVT HIKES LPG PRICES SHARPLY
Article Abstract:
The Government of India has increased the price of liquefied petroleum gas (LPG) by Rs16-18.40 per cylinder of 14 kg capacity with effect from February 1, 1999. This has been done to reduce the annual subsidy on LPG by Rs400 crore. A cylinder containing 14 kg of LPG will now be costlier by Rs16 in Delhi, Rs16.05 in Mumbai, Rs16.65 in Chennai and Rs18.40 in Calcutta. This raise will reduce the burden of subsidy on the Government from Rs84 to Rs60 per cylinder. As a result of the price increase, India's oil pool account will get Rs65 crore in 1998- 99. (um) (kvr)
Comment:
The Government of India has increased the price of liquefied petroleum gas (LPG) by Rs16-18.40 per cylinder of 14 kg capacity with effect from February 1, 1999.
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1999
User Contributions:
Comment about this article or add new information about this topic:
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