Financial Daily from THE HINDU group of publications
Tuesday, May 31, 2005
Financial Daily from THE HINDU group of publications Tuesday, May 31, 2005 |
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Industry & Economy
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Petroleum MIDC plans to foray into gas distribution Our Bureau
Mumbai , May 30 THE natural gas distribution sector in Maharashtra will see the emergence of a new player, with the State Government-controlled Maharashtra Industrial Development Corporation (MIDC) planning to foray into gas distribution. To start with, MIDC is likely to take up distribution of gas to be supplied by the Gujarat State Petroleum Corporation (GSPC) to the Tarapur industrial complex in Maharashtra. This will involve laying a 50-km long pipeline from Talasari on the Gujarat-Maharashtra border to Tarapur at an estimated cost of Rs 200 crore. MIDC has entrusted Price Waterhouse with the task of carrying out a techno-economic feasibility study for the project. The report will be ready by next month. "It will be a long-term strategy of MIDC to enter the gas distribution space. As MIDC has been spearheading industrial development of the State, its entry into gas distribution is intended to further fuel the industrial growth," an official source said. The source said GSPC has committed to supply one million cubic metres of gas initially. "But the requirement of the State is huge and so will be the gas distribution requirement," he said.
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