THREE FINANCE MAJORS MAY BUY 30% EQUITY IN PETRONET

Article Abstract:

GIC Infrastructure Pte Ltd of Singapore, AIG Asian Infrastructure Fund and the Asian Development Bank are likely to pick up 30 percent equity in Petronet LNG. GIC Infrastructure Pte Ltd is an investment subsidiary of the Singapore Government. The Indian Oil Corporation, the Gas Authority of India Ltd, the Bharat Petroleum Corporation Ltd and the Oil and Natural Gas Corporation have 12.5 percent stake each in Petronet LNG. The remaining 20 percent equity will be divided among Gaz de France, ICICI Ltd, the State Bank of India and the Gujarat Government. The authorised share capital of Petronet LNG is Rs1,200 crore. (rk) (kvr)

Comment:

GIC Infrastructure Pte Ltd of Singapore, AIG Asian Infrastructure Fund and the Asian Development Bank are likely to pick up 30 percent equity in Petronet LNG.

Petroleum, Petroleum and Coal Products Manufacturing, Asian Development Bank, GIC Infrastructure Pte Ltd., AIG Asian Infrastructure Fund L.P.

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OECF, AIG OFFER TO PICK UP EQUITY IN PETRONET LNG

Article Abstract:

The Overseas Economic Cooperation Fund of Japan and American International Group, an insurance major of the US, have shown interest in picking up equity stakes in Petronet LNG. The company is a joint venture between Indian Oil Corporation, Oil and Natural Gas Corporation, Bharat Petroleum Corporation Ltd and Gas Authority of India Ltd who hold 50 percent equity. The remaining 50 percent is to be given to financial institutions, international funding agencies and strategic partners. It is setting up two LNG terminals at Dahej and Cochin at an estimated cost of more than Rs5,000 crore. (khr)

Comment:

Plans to acquire equity stakes in Petronet LNG with Overseas Economic Cooperation Fund of Japan

Insurance, Insurance Carriers and Related Activities, Natural Gas Distribution, Gas Storage, American International Group Inc., Natural gas storage, Article

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RELIANCE PETRO, ESSAR OIL TRYING TO TAKE STAKE IN PETRONET INDIA

Article Abstract:

Reliance Petroleum and Essar Oil are planning to take up a 10 percent stake each in Petronet India Limited (PIL), the pipeline holding company. The two companies already have stakes in one of the PIL projects, Petronet Vadinar-Kandla which is setting up a pipeline to evacuate products from the Essar and Reliance refineries to Kandla. Other companies like IPL Canada, JM Financial and Reliance Capital are also keen to pick up an equity stake. Public sector companies - Indian Oil, Hindustan Petroleum and Bharat Petroleum - hold a 16 percent stake each in PIL. (tsm)

Stockholder data, Oil Product Pipelines, Pipeline Transportation of Refined Petroleum Products, Petroleum products pipelines, Reliance Petroleum Ltd., Essar Oil Ltd., Petronet

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