- Tag results for GAIL
Dr Reddy Labs tumbled 5.9 per cent and was trading at Rs 2,510.30, JSW Steel down 3.6 per cent at Rs 270.60, Sun Pharma down 3.4 per cent at Rs 425.90 and Tata Motors down 2.8 per cent at Rs 155.30.
Both the companies have expressed an interest in exploring and extracting shale gas, and under a new licensing regime the government has allowed shale exploration from CBM blocks.
Announcing this at a joint press meet here Friday, senior officials of IOCL and GAIL India said the pipelines, with a total project cost of Rs 7,200 crore, will be completed in two years.
With few LNG tankers available to ferry the fuel to India, Gail has already struck swap deals for a chunk of its Sabine Pass and Cove Point volumes.
While GETCO has made a claim of Rs 897 crore, GAIL said it has outstanding dues worth Rs 907 crore, of which about Rs 125 crore has been admitted in list of the company’s creditors.
The Kochi-Koottanad-Bengaluru-Mangaluru pipeline currently under execution is around 879 km long, with a project cost of Rs 2915 crore.
IOC on its own won rights to seven cities, including Coimbatore and Salem in Tamil Nadu and Guna in Madhya Pradesh.
GAIL operates 11,000-km of pipeline network and markets two-thirds of all natural gas sold in the country.
GAIL also wants to carry on the business of manufacture, import, distribution, and marketing of appliances relating to gas marketing and distribution, such as gas meter and CNG kits.
GAIL (India) Ltd is the country's biggest gas marketing and trading firm and owns most of the nation's pipelines, giving it a dominant position in the country's energy market.
The loan is for a 15-year tenure, the company said in a statement without saying what interest rate it would pay on the borrowing.