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ONGC ropes in Ashok Leyland for Mangalore project

Saturday, 02 Apr 2005
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Oil & Natural Gas Corporation has tied up with the Hinduja (Ashok Leyland) Group for sourcing LNG for ONGC's proposed Mangalore SEZ project.

ONGC has entered into an MoU with Ashok Leyland Project Services Ltd (ALPS) for jointly developing the LNG terminal that is part of ONGC's Rs.25,000 crore Mangalore SEZ project.

A joint venture between the two companies would be formed. It is learnt that the Hinduja Group, due to their clout in Iran, would be instrumental in striking a deal for sourcing of LNG from the gas-rich country. It may also be recalled that India has entered into an agreement with Iran for supply of 7.5 million tpa of LNG effective 2009-10.

Also See:

ONGC's Mangalore SEZ project fragmented (10-Jan-05)

India signs pact with Iran for LNG supply (8-Jan-05)

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