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GREEN SIGNAL TO RIL's DREAM PIPELINE PROJECT

Article Abstract:

Reliance Industries Ltd's (RIL) proposed Rs4,500 crore pipeline project has been approved by the expert committee that has been set up to appraise the project. Petronet India, a joint venture pipeline firm, will pick up 26 percent stake in the project. The pipeline will cover the entire central India and some part of the South. It will connect the Jamnagar refineries to Hyderabad via Rajasthan, Uttar Pradesh, Madhya Pradesh and Maharashtra. The project will be implemented in three phases. The first phase of the project will cost Rs1,294 crore. Under the first phase the pipeline will link Jamnagar with Indore. RIL being the original promoter of the project is seeking 26 percent stake in the project. The Indian Oil Corporation and Essar Oil also want 26 percent stake. (gs) (psr)

Acquisitions & mergers, Reliance Industries Ltd.

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PANEL WANTS PSUs OUT OF PIPELINES

Article Abstract:

The Sengupta Committee, appointed by the ministry of petroleum to look into the privatisation of the oil industry, has recommended that all existing oil pipelines should be taken away from the public sector oil companies and given to an independent company like Petronet India. Officials in public sector oil companies say that if the recommendation is accepted, then assets with a replacement value of Rs20,000 crore will move out of their companies. The officials say that if the assets are not taken away from them they are agreeable to the common carrier principle used internationally, in which all companies have access to a pipeline which is owned and operated by one or two companies. (khr)

Government regulation

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