Gail (India) has proposed to set up
LPG plants in Uzbekistan in joint venture with Uzbekneftegaz, the flagship
petroleum company of that country. This would be the first Indian project in
Central Asia's petroleum sector.
The memorandum of agreement between
the two companies was signed earlier in May 2006. The proposal is to set up LPG
plants, each with a capacity of 1 lakh tpa and costing $50-60 million (approx
Rs.250 crore).
A joint working group of the two
companies is expected to meet later in May 2006 to work out the modalities of
the project. The two companies are also likely to collaborate in petroleum
exploration in Uzbekistan.
Gail (India) has seven LPG plants in
India with a combined capacity of 1.3 million tpa contributing 19 per cent to
India's total LPG production.
iiaproj