India’s GAIL, IFFCO mull JV for gas-based plants

02 February 2009 15:55  [Source: ICIS news]

NEW DELHI (ICIS news)--GAIL (India) and the Indian Farmers Fertiliser Cooperative (IFFCO) have signed a memorandum of understanding (MOU) for a joint venture to set up gas-based fertilizer, petrochemical and power plants, the companies said on Monday.

Under the MOU, the two companies would evaluate the prospects of setting up different gas-based projects and sourcing gas for the facilities.

The companies said they would initially carry out feasibility studies of the projects and later incorporate a joint venture to implement them.

GAIL is India’s largest gas marketer as well as a leading petrochemical producer.

IFFCO is the country’s largest fertilizer manufacturer and plans to expand its gas-based urea capacity.

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By: Naresh Minocha
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