IOC, GAIL pact to take stake in Adani’s Dhamra LNG project expires, no investment made: Dharmendra Pradhan
State-owned refiner Indian Oil Corp (IOC) and gas utility GAIL India Ltd’s initial agreement to buy a 50 per cent stake in Adani Group’s Rs 5,000-crore Dhamra LNG project in Odisha has expired, Oil Minister Dharmendra Pradhan said Monday.
IOC and GAIL had on September 21, 2016, signed a “non-binding MoU” with Adani Petroleum Terminal Pvt Ltd to take 39 per cent and 11 per cent stake respectively in the planned 5 million tonnes a year liquefied natural gas (LNG) import terminal at Dhamra, he said in a written reply to the Lok Sabha here.
