Question: Recently Indian Oil and Gail has signed MoU for taking equity stake in Dharma LNG terminal. In this Indian Oil acquires what percent of equity?
(a) 49%
(b) 39%
(c) 30%
(d) 40%
Ans (b)
Related facts:
- On 21 September 2016 Indian Oil Corporation Limited and GAIL (India) Limited signed an MoU with Dhamra LNG Terminal Private Limited (DLTPL) for taking equity in the 5 MMTPA capacity LNG Receiving, Storage and Regasification Terminal, being put up at Dhamra Port, Odisha.
- The agreement was signed in New Delhi in the presence of Minister of State (I/C) for Petroleum and Natural Gas Sh Dharmendra Pradhan.
- As per the MoU, DLTPL shall be an equal Joint Venture of Indian Oil and GAIL on one hand and Adani Group on the other. Indian Oil and GAIL would acquire 39% and 11% equity respectively in DLTPL, with the balance 50% being held by Adani group.
- IndianOil and Adani group will each divest 1% of their respective stake to a credible financial institution which will then have 2% stake in the terminal.
- Apart from equity, Indian Oil and Gail intend to book regasification capacity of 3.0 and 1.5 million metric tonnes per annum (MMTPA) respectively in the terminal.
Reference:
http://pib.nic.in/newsite/PrintRelease.aspx?relid=150995
http://www.business-standard.com/content/b2b-manufacturing-industry/indian-oil-and-gail-pick-up-stakes-in-adani-group-s-dhamra-lng-terminal-116092200331_1.html