Andhra Pradesh government approves proposal for offering 26% stake in project
Royal Dutch Shell (Photo: AFP)
Hyderabad: Andhra Pradesh government has approved a proposal for offering 26 per cent stake to Europe's largest oil company Royal Dutch Shell in a gas project at Kakinada.
The AP government-owned AP Gas Infrastructure Corporation and state-owned GAIL floated AP Gas Distribution Company have set up a 3.5 million tonnes capacity Floating LNG Storage Regasification Unit in the East Coast at Kakinada Deepwater Port.
According to a recent government order, the committee which was set up to look on the issue of allocating stake in the gas project to Shell, has recommended the proposal. APGDC earlier tied up with the GDF Suez LNG UK Ltd by offering 26 per cent stake in the project.
( Source : PTI )
Next Story
