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GAIL to join hands with China Gas

Sujay Mehdudia

NEW DELHI: State-run utility Gas Authority of India Limited (GAIL) is all set to join hands with China Gas Holdings to undertake cooperation in city gas distribution projects, gas pipelines and supply of compressed natural gas (CNG) for the transport sector in China.

Highly placed sources said the groundwork for giving a concrete shape to form a 50:50 joint venture had been completed and the approval of the GAIL board was awaited.

GAIL had last week signed an umbrella agreement with Reliance Industries Limited for cooperation in various sectors. The company is now exploring opportunities with major gas producers for sourcing gas and setting up pipeline projects.

The sources said GAIL had taken an equity stake (which is now 7 per cent) in China Gas Holding, a retail gas company in China.The GAIL's latest move can provide the company a platform to further explore such possibilities in other third world and developing countries.

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