Financial Daily from THE HINDU group of publications
Saturday, Sep 04, 2004

News
Features
Stocks
Cross Currency
Shipping
Archives
Google

Group Sites

Corporate - Outlook
Industry & Economy - Petroleum


IBP bets on moving LNG by road

Archana Chaudhary
Vinod Mathew

Mumbai , Sept. 3

IBP Ltd plans a "side-door" entry into the LNG supply business. The oil company plans to invest Rs 15 crore in buying cryogenic containers costing Rs 30 lakh each for a pilot project to supply LNG to remote areas of Gujarat not connected by gas pipelines.

"We believe transporting LNG by road will be big business. We will initially buy 20-tonne containers from the US company, Chart Industries, which will move LNG just like LPG tankers do today," Dr N.G. Kannan, IBP's Managing Director, said. Dr Kannan said IBP's parent company Indian Oil has approved Rs 15 crore, to be used in two phases. The company will begin supplies to Dahej in Gujarat by January 2005.

More Stories on : Outlook | Petroleum

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page



Stories in this Section
German co launches eco-friendly bio cleaner for factory machines


HC directive to Heinz India on Complan commercial
IOC raises $220-m loan for crude imports
Cummins to buy components worth $150 m from India
Award for Kurlon
Novartis' patent held valid; Dr Reddy's withdraws case
ONGC Videsh to buy stake in Ivory Coast block
Agri biotech lab acquisition
Ministry orders inspection of Escorts cos' accounts
Govt okays HPCL's tie-up with French co for tech upgradation
VLCC plans foray into health tourism next year
`Revival package for BHPV to be announced soon'
Electromags hopes to bag order from Bosch
IBP bets on moving LNG by road
GM posts 70 pc growth
Eicher Motors Aug CV sales up



The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription
Group Sites: The Hindu | Business Line | Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |

Copyright 2004, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line