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Shell in talks to buy stake in Andhra Pradesh project

Shell is in talks for buying up to 24 per cent stake

Mumbai: Global energy major Royal Dutch Shell is in talks with the Andhra Pradesh government for buying up to 24 per cent stake in the planned Kakinada liquefied natural gas project on the east coast, said GAIL chairman B.C Tripathi.

GAIL Gas, a subsidiary of GAIL (India) is a co-promoter of Andhra Pradesh Gas Distribution Company that will build the project in the state.APGDC will have a 50 percent stake and Gaz de France 26 per cent share in the project, leaving the remainder for the new partner.

( Source : reuters )
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